Asia Pacific

China’s Kingboard Chemical Holdings has returned to the offshore loan market for a HK$6bn ($764m) borrowing, less than six months after signing its last syndicated transaction.

Working in finance is a high stress job. Bankers work long hours, with the constant pressure of looking after clients’ money dangling over them.

China Aoyuan Property Group’s $200m bond dropped sharply in the secondary market on Thursday as global markets wreaked havoc on the company’s notes.

UBS has submitted an application to the China Securities Regulatory Commission to bump up the stake in its China joint venture to 51%, becoming the first international bank to take advantage of China’s recent move to open up its financial sector.

The China cross-border interbank payment system (Cips) started 24 hour operations on May 2, the central bank announced. But Swift thinks there is plenty of room to improve China's clearing and settlement infrastructure.

Frequent Panda bond issuer GLP returned last week with a five year tranche and a nine year note. But most investors did not have the stomach for the five year leg of the deal. Instead, they were enticed by the two exit options in the longer dated portion, said a source close to the transaction.

Thunder Bridge Acquisition has filed for a $200m Nasdaq IPO, set to be the first special purpose acquisition company (Spac) focused on China’s financial technology sector.

In his latest Clawback, columnist Philippe Espinasse takes a closer look at the Hong Kong bourse’s guidelines on the suitability of IPO candidates.

LCH, the majority-owned clearing house of the London Stock Exchange, on Tuesday began clearing non-deliverable interest rate swaps in Chinese yuan, Korean won and Indian rupees.

Indonesia’s Astra Sedaya Finance (ASF) is back in the offshore loan market for a new $150m borrowing, paying 20bp lower than a similar deal raised last year.

IndInfravit Trust will launch a Rp32.3bn ($484.3m) IPO on Thursday, the first time an Indian infrastructure investment trust (InvIT) will sell shares solely through a private placement.

Puma Energy has closed a $1.37bn syndicated loan, with commitments from 48 banks helping the company boost its fundraising.