Banks

Tao Weng, a former syndicate banker at JP Morgan, has switched to the buy-side to run Asia Pacific equity capital markets for hedge fund ExodusPoint Capital Management.

A trio of Chinese companies, including healthcare technology provider Yidu Tech and television series producer Strawbear Entertainment Group, kicked off their IPOs in Hong Kong at the end of December as they prepare to be the first new firms to start trading on the bourse in 2021.

Singapore could prove to be a rich seam of covered bond issuance next year, with bankers suggesting analysts’ expectations are far too pessimistic. Conversely, Australian issuance may prove to be disappointing. Meanwhile, potential new legal developments in Japan and Malaysia will provide a key focus of attention.

After a remarkable year, GlobalCapital reflects on some of the most important stories in the bank finance and covered bond markets of 2020.

The European Central Bank's various purchase programmes are set to continue shaping covered bond issuance next year, but away from the reach of the ECB, more niche markets are expected to flourish. Collected below is a selection of GlobalCapital’s covered bond outlooks for next year.

The sterling corporate bond market may need to rely on the Bank of England stepping in with corporate bond purchases in the case of a no-deal Brexit, as politicians take negotiations over the UK's future relationship with the EU to the wire.

Everfuel, the Danish hydrogen fuel company, has signed a quasi-equity loan facility from the European Investment Bank, as lenders say that funding for the green transportation sector is shifting from equity to debt.

Fitch placed Banca Monte dei Paschi di Siena (MPS) on negative watch on Monday evening, following Moody’s, which postponed its ratings upgrade decision last week, with the Italian bank now expected to face a capital shortfall of up to €1.5bn by the end of next year.

Emerging market bond trading desks were quiet on Monday, as the last business week of the year began with the world reacting to the rapid spread of a new strain of the Sars-Cov-2 virus in the UK. But market participants expect that EM assets cannot remain immune.

Trig, the London-listed renewable infrastructure investment firm, has signed a £500m loan with its margin linked to Sonia rather than Libor, as loans bankers try to encourage borrowers look at their loan documents soon to avoid bottlenecks next year.

In the second part of GlobalCapital China’s awards announcements, we reveal the winning banks across Panda bonds and ABS, as well as the best bank for securities services.

GlobalCapital China is pleased to announce the winners of its annual awards, recognising the banks, issuers and individuals that have made the biggest contribution to developing China’s onshore markets. In part one, we reveal the most impressive issuers in the FIG, corporate and SSA categories.