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Executive is moving to more senior role
India is on track for a record year of IPOs. Global tech giants continue to plough capital into a fast-growing consumer economy that is investing heavily in ensuring it’s a major player — along with the US and China — in an AI-first world
◆ Deal finds demand despite arrest of South Korea's president ◆ High single digit concession left for investors ◆ Leads added spread to calm concerns
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  • Bank of China took its pivot away from Libor-linked bonds further this week by selling a dollar note tied to the secured overnight financing rate (Sofr) and a sterling-denominated deal that was the first Sonia-linked bond from a Chinese issuer. While BOC’s transaction was important, bankers say the new benchmarks are still slow to take off in Asia. Morgan Davis reports.
  • Beijing Hyundai Auto Finance Co sealed a Rmb4bn ($619m) revolving auto loan ABS this week, paving the way for its peers to tap China’s domestic market in the coming months.
  • Taiwan’s Qisda Corp, which designs and makes electronic products, has wrapped up the first round of bidding for a NT$10bn ($358m)-equivalent dual currency loan.
  • China Ping An Insurance Overseas (Holdings) found strong support for its $550m 10 year bond, defying initial concerns around volatility in longer tenors.
  • The rarity value of financial deals from Thailand allowed Kasikornbank to raise $350m from an additional tier one bond at a negative new issue premium on Tuesday.
  • Canned fruit and vegetables producer Del Monte Philippines has put its IPO on hold due to a jump in volatility and renewed Covid-19 lockdowns in the country.
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