Banks

SBI Cards and Payments Services, a State Bank of India subsidiary, set the final price range for its IPO, putting proceeds of up to Rp103.5bn ($1.44bn) in reach for when it launches the deal next week.

Artificial intelligence company Megvii Technology’s IPO prospectus expired on Tuesday. But despite delaying the deal, the firm intends to resubmit a listing application, according to a source familiar with the matter.

Chinese travel services provider Trip.com Group is seeking a $1.2bn loan at a time when markets are reeling from the rapid spread of the coronavirus outside the mainland and companies are assessing the impact of the epidemic on their businesses. Despite difficult market conditions, the borrower has received plenty of interest for the deal. Pan Yue reports.

Bank of China took Covid-19-linked bonds offshore on Thursday with a dual currency two year transaction, which was offered through its Macau branch.

Standard Chartered-backed China Bohai Bank is planning a listing in Hong Kong, having filed a draft prospectus on Wednesday.

United Hampshire US Real Estate Investment Trust has launched Singapore’s second Reit listing of the year. The deal comes as volatility around the world has brought many IPO markets to a halt, with investors looking for safe-haven opportunities. Jonathan Breen reports.

JP Morgan has picked Filippo Gori as its new chief executive officer for Asia Pacific, replacing Nicolas Aguzin, who is now running the firm’s international private bank.

Chinese local government financing vehicle Xi'an Qujiang Culture Holdings Co raised $300m from a three year bond sale on Wednesday.

Credit Suisse has hired a head of environmental, social and governance equity research for Asia Pacific, a newly created position at the bank.

Conditions are changing so fast with the coronavirus epidemic that each day could bring a change in sentiment, but for the time being leveraged finance is staying calm and continuing to function. There is more activity in this high risk corner of Europe’s capital markets than in any other, apart from sovereign, supranational and agency bonds.

CPPIB Capital came to market for a dollar benchmark on Wednesday, after mandating the deal last Friday. The trade had been postponed to avoid printing in the peak of the volatility sparked by the worsening Covid-19 outbreak.

The European Investment Bank is out with its first Sofr-linked floating rate note structured with a ‘shift’ coupon calculation rather than the ‘lag’ methodology which it introduced to the Sofr FRN market in June 2019.