Asia Pacific

Hong Kong-listed Angang Steel has sealed its debut in the international equity-linked market with a HK$1.85bn ($236m) five year put three trade.

Investment bankers began pitching to work on the IPO of Indian logistics service provider Delhivery on Friday, according to a source familiar with the matter.

Discussions around the co-existence of two renminbi markets, one onshore and one offshore, are once again picking up pace, market participants told GlobalRMB. It will be up to China’s central bank to clean up the mess once and for all.

There is a stereotype of the staid investment banker, taking himself far too seriously, as obsessed with the numbers as he is with his perfectly-coiffed haircut. But the truth is that the industry attracts its fair share of oddballs, rogues and plain old geeks.

JP Morgan's launch of an environmentally and socially conscious version of its EMBI index is well timed, as fund managers realise that dodgy morals can lead to shabby financial statements.

ZTE Corp’s travails have taken a toll on the Chinese telecommunications firm and its bank lenders, with the company seeking a waiver after a covenant breach on a $450m loan. Despite the Chinese government throwing its weight behind ZTE, smaller lenders in the syndicate are worried about the ramifications, writes Pan Yue.

Vingroup spun off its real estate arm, Vinhomes, in a D30.7tr ($1.35bn) equity offering this week, stunning the market with the largest listing in Vietnam’s history and in Asia this year. The spotlight has turned to the company’s use of a novel private placement-style structure that is fast becoming popular in the country. Jonathan Breen reports.

Nomura Holdings has applied to the China Securities Regulatory Commission (CSRC) to establish a joint venture securities firm in the country.

ReNew Power, a poster boy of India’s clean energy firms, is looking to raise as much as $1.4bn through an IPO as it revives public share sales in the sector.

Asia’s high yield market has been volatile throughout much of the year, but it has now gone from bad to worse. Secondary prices are diving, investors are becoming increasingly tight-lipped and bankers are starting to play the blame game. Morgan Davis and Addison Gong investigate.

A pair of Singapore Reits came to the equity market this week to raise funds for acquisitions, pocketing S$779.1m ($581.0m) between them.

Bank of Communications Hong Kong branch priced two dollar floaters alongside a Hong Kong dollar fixed rate bond on Wednesday, raising close to $1.7bn. A local government financing vehicle from China, Guangzhou Finance Holdings Group Co, wrapped up a $250m maiden bond.