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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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  • ZTO Express and Samsung BioLogics are seeing bumper responses for their jumbo IPOs in the US and South Korea respectively, as bankers expect their bookbuilds to gain even more momentum.
  • Taiwanese solar cell manufacturer Neo Solar Power has raised $120m from a zero coupon convertible bond backed by a standby letter of credit (SBLC). The deal was driven by a hefty fall in NSP’s stock price, pushing the issuer to redeem its outstanding notes early.
  • A five year loan for a subsidiary of Employees Provident Fund of Malaysia has entered syndication, three months after the leads were chosen.
  • PNB Housing Finance and Varun Beverages are launching their IPOs in India next week to raise a combined Rp41.1bn ($616.9m).
  • Huai’an Traffic Holdings, the local government financing vehicle (LGFV) for the Huai’an municipal government, has locked in $300m from its inaugural international offering as investors put faith in the issuer’s strong link to the Jiangsu province.
  • Plans abound to connect China’s bond market with offshore counterparts but they have had little success until recently. Now Russia’s National Settlement Depository (NSD) is close to launching a link in the first half of 2017, Eddie Astanin, chairman of the executive board, told GlobalRMB.
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