Asia Pacific

Singapore’s Louis Dreyfus Co Asia has returned to the offshore market for a $500m three year revolving credit facility.

FX watchdog loosens its grip on capital outflows for foreign investors, securities regulator lobbies for A-shares to make up more than 0.73% of MSCI’s benchmark emerging market (EM) index, and the governor of China’s central bank hails Shanghai as the prime spot to pilot further liberalisation.

Non-bank lender Hinduja Leyland Finance is making a second attempt at listing in India, some two years after it first filed a draft prospectus.

New benchmark created for interbank bonds, the Institute of International Finance (IIF) projects further inflows into China’s capital markets, and the White House is reportedly going ahead with plans to place tariffs on $50bn of Chinese imports.

Xiaomi Corp has said that about half of its expected $10bn dual listing in Hong Kong and China will come from the offering of China Depositary Receipts to Mainland investors.

A sell down in India’s ICICI Prudential Life Insurance by its parent, worth up to Rp11.2bn ($164.8m), has been warmly embraced by institutional investors.

The Export-Import Bank of Korea returned to the Swiss franc bond market on Thursday, capitalising on an arbitrage window against its dollar curve.

Social bonds in Asia have been rare, to say the least. But with Industrial Bank of Korea preparing for the region’s first dollar-denominated social bond issuance, the potential for the market is huge, writes Jasper Cox.

Asia’s bond market suffered prolonged bouts of volatility in the first half of the year. Bankers, credit analysts and asset managers are trying to shake off the disappointments in both the primary and secondary markets, but the signs are not good. Addison Gong reports.

Companies in both China and India have to find their way through regulatory labyrinths to gain approval to sell offshore bonds. But although both countries have overbearing, occasionally irrational, regulators, they differ in one key respect.

Citi has made a number of senior changes to its Asia Pacific financial institutions group (FIG), according to internal memos seen by GlobalCapital Asia.

India’s HDFC Bank and Yes Bank won approval this week to go ahead with their billion-dollar fundraising plans. A number of methods are on the table, including qualified institutional placements (QIPs).