Asia Pacific

The Chinese leadership picks Yi Gang as the next governor of the People’s Bank of China, Chinese bankers are confident about the prospect of the country’s economy, and Panama prepares to sell $500m worth of Panda bonds by the end of the year.

Rural Electrification Corp ventured out with a 10 year deal on Thursday, despite recent bonds with the same tenor widening by as much 10bp in the aftermarket. But the Indian issuer was vindicated in its choice, with its notes seeing solid secondary performance.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has mandated ANZ as the sole mandated lead arranger and bookrunner for a $100m bullet loan, according to sources close to the deal.

HDFC Bank sold its debut offshore rupee bond on Thursday, opening an untapped market for Indian banks.

IT service provider Lotte Data Communication is planning to launch an IPO, filing for listing approval on Wednesday.

The Vietnamese government is looking to raise up to D6tr ($263.4m) from an IPO of pay-TV service provider VTVCab, a unit of state-owned broadcaster Vietnam Television.

European corporations have had an easier time selling Panda bonds than those from other parts of the world, thanks to Chinese regulators’ acceptance of their accounting standards. But a recent deal with a guarantee structure — a rarity in the budding asset class — appears to threaten that ease of access.

BoCom International’s head of ECM is the latest senior banker to join a growing exodus of talent from banking to Chinese start-ups.

HDFC Asset Management Co is set to kick off investor education for its India IPO, according to a banker working on the deal.

Shanghai-listed MeiHua Holdings Group has launched its debut international loan, seeking $200m through a single bookrunner.

Regulators prepare for the introduction of Chinese depository receipts (CDRs), the US Federal Reserve scolds Industrial and Commercial Bank of China for failing to comply with anti-money laundering rules, and China holds less US Treasury bonds in January.

Bank of the Philippine Islands has firmed up the launch date and number of shares for its Ps50bn ($961.5m) rights issue.