Asia Pacific

CNFinance Holdings has filed for a $200m flotation of American Depositary Shares on the New York Stock Exchange.

European and Asian stock markets have fell sharply on Wednesday morning as investors attempted to position for escalation in trade hostilities between the US and China.

Commonwealth Bank of Australia (CBA) took advantage of a 40bp spread differential to senior dollar funding this week to issue its first dollar covered bond in three years.

A shareholder in Korea Aerospace Industries has bagged W236.4bn ($210.9m) after cleaning up its position in the company through a block trade on Tuesday evening.

The Republic of Korea has sent out a request for proposals for a new bond issue, and is expected to select the bookrunning banks by next Tuesday.

Stock Connect and Bond Connect are international investors’ favourite channels to tap the onshore capital markets thanks to their simplicity compared with other access programmes, according to a survey by Standard Chartered.

Ronshine China Holdings reopened a 2021 bond on Tuesday, adding $225m to a three year puttable line sealed in January this year. The deal is the latest in a series of capital raising exercises designed to ease the firm’s refinancing burden.

Indian apparel maker TCNS Clothing has finalised the price range for its IPO, as it aims for up to Rp11.24bn ($163.3m).

In a damning assessment, a European business lobby says China’s foreign ownership reform in the financial sector has done little to help foreign firms compete in the onshore market, and calls on Beijing to grant international institutions more freedom to engage in cross-border services.

Japan Bank for International Cooperation (JBIC) raised $3.5bn from a triple-tranche bond deal in its first outing in the dollar market since November.

Singapore Exchange (SGX) on Tuesday announced that it would allow market participants to centrally clear bespoke FX futures with a new service. The exchange is aiming for an August 27 launch date.

In a sign of warming relations between China and Germany, Chinese authorities said they would let Deutsche Bank underwrite corporate bonds in the interbank market. The bank is hoping to grab two different types of underwriting licences, GlobalRMB has learned.