• Goldman’s Weber moves to Middle East

    Martin Weber, a Goldman Sachs managing director, is moving to Dubai to run the bank’s MENA financing group.

    • 12:30 PM
  • Saudi Arabia launches financing plan

    Saudi Arabia has sent out a request for proposals to refinance its $10bn syndicated loan signed in 2016. The sovereign has also requested ideas for a dollar bond issue and a possible export credit agency (ECA) backed financing.

    • 12:15 PM
  • Vakifbank adds to senior supply

    Vakifbank opened books on Tuesday on the third senior 2023 from a Turkish financial institution this year and was expected to guide investors towards a sub-6% print.

    • 12:00 PM
  • Ollerenshaw survives Barclays cull

    A new role for Simon Ollerenshaw was announced internally at Barclays on Monday.

    • 11:00 AM
  • MS PE unit picks up $199m from CTBC sell down

    Morgan Stanley Formosa Holdings pulled off a NT$5.8bn ($199.3m) block trade in CTBC Financial Holdings on Monday — Taiwan’s largest accelerated share sale in four years, according to a source close to the deal.

    • 10:30 AM
  • Fosun rides Moody’s upgrade momentum to nab $700m

    Fosun International raised $700m from two bonds on Monday, tapping an outstanding three year sold at the end of 2017 while extending its maturity profile with a new five non call three year. The deal came a week after Moody’s raised the issuer’s corporate family rating by one notch.

    • 10:30 AM
  • New issue monitor: Wijaya Karya sells Rph5.4tr Komodo bond

    Indonesian construction services company Wijaya Karya sealed a Rph5.4tr ($404.7m) offshore rupiah bond on Monday, a key deal in the opening up of the Komodo bond market.

    • 10:30 AM
  • A-Living sees strong demand for $600m HK listing

    A-Living Services Co plans to raise around $600m in a Hong Kong IPO, on the back of strong indications of interest from investors.

    • 10:00 AM
  • Kospo sets strong tone for Korean dollar supply

    Korea Southern Power Co (Kospo) has priced the first public dollar bond from South Korea amid a US government shutdown. But the 144A deal saw little fallout from that. Easing tensions on the Korean peninsula, the quality of its credit and demand for short-dated paper ensured investor interest.

    • 10:00 AM
  • Shenzhen Sunway beams debut financing into syndication

    Shenzhen Sunway Communications has reached out to lenders for an up to $250m borrowing, marking its debut in the overseas loan market.

    • 10:00 AM
  • Keep Indonesia’s Komodo bonds caged

    Komodo bonds, the catchy term for offshore Indonesian rupiah bonds, are finally sputtering to life. The second such deal by an Indonesian company this week shows the possibilities. But don’t count your dragons before they hatch. The market will always be limited — and that’s a good thing.

    • 09:45 AM
  • China Houze sets out for $60m loan with IFC umbrella

    China Houze Group, a non-bank financial company, has embarked on its maiden offshore loan syndication with the help of International Finance Corp.

    • 09:15 AM
  • Citi’s Duffy leaves senior Asia ECM role

    Citi has lost a veteran banker who was in charge of the south Asia equity capital markets business, according to sources close to the move.

    • 09:15 AM
  • India’s Route Mobile kicks off IPO process

    Cloud-communications service provider Route Mobile set the ball rolling for its IPO on Monday, filing a draft red herring prospectus with the Indian securities regulator.

    • 09:00 AM
  • Carnival Group nets $100m from fresh equity issue

    Theme park operator Carnival Group International Holdings has raised HK$781m ($100m) after selling a chunk of primary stock, according to a filing with the Hong Kong Stock Exchange.

    • 07:45 AM
  • Indonesia sets sights on first Asian sovereign green bond

    The Republic of Indonesia has mandated banks for a green dollar sukuk sale, marking the region’s first sovereign green issuance.

    • 07:15 AM
  • Dalian Wanda starts work on IPO of sports business

    Dalian Wanda Group has mandated banks to start work on a possible IPO of its sports assets, said sources close to the matter.

    • 05:15 AM
  • Banco Estado returns to Aussie dollars

    Chilean lender Banco del Estado de Chile (Banco Estado) returned to the Aussie dollar market last week with a A$40m ($31.9m) trade.

    • 05:00 AM
  • Shandong Gold eyes HKEX for listing

    Chinese state-owned Shandong Gold Mining is planning to hold an IPO in Hong Kong, filing a draft prospectus with the city’s bourse on Monday.

    • 04:45 AM
  • SingHaiyi gets green light for $109m cash call

    Singapore's SingHaiyi Group will go ahead with a rights offering to raise S$143.5m ($108.9m) after receiving regulatory approval, the company has said.

    • 04:00 AM
  • Survey shines light on 3.29m index tally

    The Index Industry Association on Monday revealed that its members administered about 3.29m indices around the world, with more than 95% of those referencing equities.

    • 22 Jan 2018
  • Debutante Petkim squeezes investors for $500m

    Petkim Petrokimya Holding brought the first high yield corporate trade from Turkey since 2014 last Friday, raising $500m with a sub-6% coupon.

    • 22 Jan 2018
  • Investec’s UK branch more than doubles loan at $450m

    Investec plc, the South African bank’s UK branch, has signed a loan for $450m — growing to more than double its launch amount of $200m after being three times subscribed.

    • 22 Jan 2018
  • TAIFEX targets SMEs with FX futures

    Taiwan Futures Exchange (TAIFEX) on Monday released two new foreign exchange futures to cater to small and medium-sized enterprises, as the exchange pivots towards FX derivatives.

    • 22 Jan 2018
  • Belarus weighs up tap of best performing bond

    The Republic of Belarus is considering reopening its $600m 7.625% 2027s, according to a source with knowledge of the matter, after a strong rally that has made them the best performing hard currency bonds in CEEMEA in the last six months.

    • 22 Jan 2018
  • Steinhoff sells €476m stake in PSG

    Steinhoff International has sold a second chunk of its stake in PSG Group, the South African financial services company, in as many months, as Steinhoff struggles to stabilise itself after its disastrous revelation that three years' accounts will need restating.

    • 22 Jan 2018
  • Sino-Ocean lays groundwork for Panda return

    Property developer Sino-Ocean Group Holdings is set to return to the Panda bond market with a Rmb3bn ($467.9m) three year trade — its first Panda since its debut in the asset class last March.

    • 22 Jan 2018
  • IndusInd Bank out for biggest offshore borrowing

    Indian lender IndusInd Bank has sent invitations for a $500m borrowing, its largest from the overseas syndicated loan market.

    • 22 Jan 2018
  • Morgan Stanley arm offers $202m CTBC Financial block

    Cayman Islands-based Morgan Stanley Formosa Holdings opened a block sale of CTBC Financial Holdings’ stock on Monday, hoping to raise up to NT$5.9bn ($202.3m).

    • 22 Jan 2018
  • Zhongyuan Bank brings action to Chinese AT1 market

    Zhongyuan Bank Co is looking to raise Rmb10bn ($1.56bn) from an offshore additional tier one transaction, according to a Sunday filing with the Hong Kong Stock Exchange.

    • 22 Jan 2018
  • AerCap flies in for $600m syndication

    AerCap Holdings, one of the largest aircraft leasing companies in the world, has approached banks for a $600m four year revolver, with three lenders co-ordinating the syndication process.

    • 22 Jan 2018
  • Liquidity rush continues strong for Indian IPOs

    Amber Enterprises, an air conditioner manufacturer, has sealed its Rp6bn ($93.9m) IPO in India after institutional investors, corporations and high net worth individuals flooded into the trade.

    • 22 Jan 2018
  • Kospo kicks off year’s Korean dollar supply

    Korea Southern Power Co (Kospo) is returning to the offshore dollar bond market after almost five years, becoming the first issuer from the country to tap international investors in 2018.

    • 22 Jan 2018
  • Wijaya Karya unleashes new Komodo bond

    Indonesian construction services company Wijaya Karya began marketing an offshore rupiah deal on Monday morning, making it the second Komodo bond from the country to hit the market.

    • 22 Jan 2018
  • Mexican president spins finance ministry merry-go-round for final stretch

    Mexico’s president has proposed a new — but familiar — director of public credit amid a reshuffle at the country's finance ministry. The move was triggered by the resignation of deputy finance minister Vanessa Rubio, who will coordinate the market favourite’s presidential campaign.

    • 22 Jan 2018
  • Brazilian Natura gets made up for markets

    Natura Cosméticos, the Brazilian cosmetics and personal care group that bought UK firm The Body Shop from L’Oréal last year, is to meet bond investors this week as it looks to refinance the debt used to finance the acquisition.

    • 22 Jan 2018
  • The week in renminbi: Counter-cyclical factor tamed but not gone, PBoC puts new ceiling on cross-border RMB financing, CSRC tightens grip on private bonds

    China Foreign Exchange Trade System (CFETS) insists that the counter-cyclical factor remains in place, the Chinese central bank introduces a new limit on cross-border financing for commercial banks, and China Securities Regulatory Commission (CSRC) reportedly cracks down on risky private bond issuance.

    • 22 Jan 2018
  • Hung, Stoehr promoted in major Credit Suisse reshuffle

    Credit Suisse has appointed Zeth Hung and Carsten Stoehr as replacements for Mervyn Chow, one of its most senior investment bankers in Asia.

    • 22 Jan 2018
  • Crédito Real mandates for Swiss bonds

    Crédito Real, the Mexican consumer finance company, is set to debut in the Swiss franc bond market in the coming weeks.

    • 19 Jan 2018
  • Saudi Electricity scores its largest loan for $2.6bn

    Saudi Electricity Co (SEC) has signed its biggest ever syndicated loan, for $2.6bn, with a club of eight banks, after tapping the same banks for $1.75bn last year. The loan is an unsecured one year bridge facility.

    • 19 Jan 2018
  • Polyus prices $250m CB

    Polyus Gold, Russia’s largest gold producer, priced a $250m convertible bond on Friday, just a day after issuing a separate mandate for a new Eurobond.

    • 19 Jan 2018
  • Russia's Rusal returns for dollars

    United Company Rusal has returned to its core currency after issuing two Panda bonds via private placement last year. The Russian aluminium producer will meet investors for a dollar bond of intermediate maturity next week.

    • 19 Jan 2018
  • First timer Petkim puts out 'punchy' price talk

    Turkish petrochemical manufacturer and debut issuer Petkim Petrokimya Holding was marketing a five year bond at what one rival banker called a “punchy” starting point on Friday.

    • 19 Jan 2018
  • Geely prices opportunistic five year tighter than SOEs

    Geely Automobile Holdings opted for price over size with its new bond, landing aggressively at the middle of the final guidance range. The tactic meant the private company funded at or even inside the levels of some similarly or higher rated state-owned enterprises (SOE).

    • 19 Jan 2018
  • Investors pump money into Tata Steel’s bonds

    Investors showed their faith in Tata Steel on Thursday, pouring money into the Indian issuer’s dual-tranche transaction, shrugging off the weak structure and aggressive pricing.

    • 19 Jan 2018
  • Chinese issuers opt for keepwell structures

    Peking University Founder Group Company and Bank of Communications Financial Leasing Co used keepwell deeds for their dollar bond sales on Thursday, paying a bit of premium for the structure.

    • 19 Jan 2018
  • Smooth sailing for Philippines’ sovereign outing

    The Republic of the Philippines has wrapped up an SEC-registered transaction, raising $2bn from Asia’s first sovereign bond of the year, with $1.25bn going towards liability management. The new issuance made the country’s outstanding bonds look relatively attractive, said analysts.

    • 19 Jan 2018
  • Local investors keep Ford’s ABS on track

    Ford Automotive Finance (China) started the year in China’s asset-backed securities market by selling a Rmb4bn (Rmb618.3m) deal on Thursday. The deal was open to foreign investors, but onshore demand formed the core support for Ford’s sale, sources on the deal told GlobalRMB.

    • 19 Jan 2018
  • Jinjiang sells year’s first euro bond from Asia

    Chinese issuers Jinjiang International Holding, China South City Holding, Guangxi Communications Investment Group Corp and Tianjin Real Estate Group Co tapped the market for euro and dollar bonds on a busy Thursday.

    • 19 Jan 2018
  • RMB round-up: Safe asks companies to adapt to RMB volatility, CBRC’s Guo lashes out at banking outlaws, Chinese rating agency downgrades the US

    China’s FX watchdog tells corporates to prepare for more volatility in the RMB exchange rate, the chief of China Banking Regulatory Commission (CBRC) criticises illegal activities in the banking sector, and a domestic Chinese credit rating agency moves US sovereign rating as a result of the recent tax cut.

    • 19 Jan 2018
  • SK Biopharma sends RFP for US listing

    South Korean firm SK Biopharmaceuticals Co has sent a request for proposals to foreign banks and securities firms as it looks for candidates to lead its IPO, according to a source familiar with the matter.

    • 19 Jan 2018
  • Canopus uses Indorama stock in rare Thai equity-linker

    Thai firm Canopus International has raised $200m from a bond exchangeable into shares of Indorama Ventures, the first zero coupon exchangeable with a Thailand-listed underlying stock.

    • 19 Jan 2018
  • All aboard: Rites gears up for India float

    Indian state-owned Rites has filed a draft prospectus for an IPO through a syndicate of local bookrunners.

    • 19 Jan 2018
  • First real IPO hits Myanmar with TMH Telecom slated to list

    TMH Telecom Public Co will list on the Yangon Stock Exchange in Myanmar next week, having held an IPO that included a chunk of primary shares — the first flotation in the country with new stock.

    • 19 Jan 2018
  • BNPP DCM banker quits for GS

    A senior BNP Paribas CEEMEA DCM banker has resigned from the bank to join Goldman Sachs.

    • 19 Jan 2018
  • Shanghai Pharmaceuticals nets $397m in H-share offering

    Shanghai Pharmaceuticals Holding Co raised HK$3.1bn ($396.6m) through an H-share placement on Thursday, its biggest follow-on offering yet.

    • 19 Jan 2018
  • PFC $300m five year hits general syndication

    A $300m five year facility for Indian state-owned company Power Finance Corp (PFC), which mandated three banks for the financing in October, is now open to retail participation.

    • 19 Jan 2018
  • Philippines’ Metrobank gets green light for $1.2bn rights issue

    Metropolitan Bank & Trust Co’s board of directors has given the go-ahead for a rights issue that could raise up to Ps60bn ($1.18bn), according to an exchange filing on Thursday.

    • 19 Jan 2018
  • Sinopec Oilfield names banks for $806m H-share placement

    Hong Kong-listed Sinopec Oilfield Service Corp has hired CICC, Citic CLSA Securities, Deutsche Bank and Guotai Junan to help raise up to HK$6.3bn ($805.7m) in new equity.

    • 19 Jan 2018
  • Bundesbank eyes small RMB allocation for FX reserves

    Germany's domestic central bank said this week that it would start buying renminbi assets. Andreas Dombret, a member of the board at the Bundesbank, indicated to GlobalRMB that the central bank — like others in the developed markets — would follow the European Central Bank’s small initial allocation to the currency.

    • 19 Jan 2018
  • Brazil back in business as LatAm ploughs deeper

    The Brazilian sovereign continued a busy period for the country’s issuers with a tap of its existing 30 year bonds on Thursday as bankers said that borrowers from the country were rushing to issue ahead of elections later this year.

    • 18 Jan 2018
  • Ecuador nabs biggest, tightest ever deal

    Bondholders appear to have brushed off any concerns about the Ecuadorean government’s intention to audit existing debt as the sovereign clinched its largest ever bond issue on Thursday at the tightest yield in its history.

    • 18 Jan 2018
  • Hidrovias debuts as market buys into Brazilian logistics

    Brazilian waterway logistics provider Hidrovias do Brasil drew a raucous reception for an international bond debut on Wednesday as the Brazilian company was able to price just inside where Rumo — its closest comparable — issued last week, though just wide of where Rumo was trading.

    • 18 Jan 2018
  • Argentine trio to restart corporate supply

    Government-owned water utility AySA (Agua y Saneamientos Argentinos) joined energy companies Genneia and MSU Energy in the pipeline on Thursday as this year’s corporate supply from Argentina looks set to start next week.

    • 18 Jan 2018
  • Jefferies EM trader jumps to JPM

    JP Morgan has hired an emerging markets trader from Jefferies.

    • 18 Jan 2018
  • Brazilian duo wrap up bond buy-backs

    Meatpacker Marfrig and airline Gol both completed tender offers for existing bonds this week as Brazilian issuers up the pace of capital market activity at the start of an election year.

    • 18 Jan 2018
  • African sovereigns set for loan spree

    Emerging market loans bankers are predicting African sovereign issuance will blossom this year, after Kenya led the way with a $1bn transaction last year.

    • 18 Jan 2018
  • Mizuho leads Saudi push with senior hire

    Mizuho Bank has hired a senior banker to run its Saudi office as it looks to develop its business in financing and advisory work.

    • 18 Jan 2018
  • DMOs reveal funding plans at Euromoney’s CEE Forum in Vienna

    Debt management officials met in Vienna this week at Euromoney’s annual Central & Eastern European Forum. After a record year for CEEMEA funding in 2017, 2018 has begun with equally supportive conditions, though CEE sovereigns will maintain a measured approach to borrowing this year. GlobalCapital presents a round-up of some of their funding plans for 2018.

    • 18 Jan 2018
  • Second time lucky for Fibabanka senior bond

    Fibabanka has launched its $300m five year senior unsecured bond at 6%, with leads having built a book of just under $500m for the bond, which had been postponed from October.

    • 18 Jan 2018
  • Investec’s UK branch wins big demand for $300m loan despite Steinhoff fall

    Investec Bank plc, the South African bank’s UK branch, is expected to sign a loan to refinance a $300m facility signed in 2015.

    • 18 Jan 2018
  • Reverse enquiries lead to Israel Chemical and VAT share sales

    Reverse enquiries led to two large share sales over the last week, with one of the blocks executed as a pure club transaction without the need for an accelerated bookbuild at all.

    • 18 Jan 2018
  • Turkey’s Fibabanka puts out 'fair' guidance

    Fibabanka began marketing its revived five year bond at 6.25% area on Thursday.

    • 18 Jan 2018
  • Phosagro reopens Russian bonds with sub-4% coupon

    Russian fertiliser producer PhosAgro placed the first Russian corporate bond of the year on Wednesday, securing a coupon of below 4%.

    • 18 Jan 2018
  • Indian lenders woo FIs with overseas push

    Axis Bank’s presence in the top group of a recent loan for Oman’s Bank Sohar has once again put the focus on Indian lenders’ efforts to expand their overseas balance sheets. Banks from the south Asian country see FIG deals as a safe gateway to business in unfamiliar geographies — and are keen to step up their game. Shruti Chaturvedi reports.

    • 18 Jan 2018
  • Franklin Templeton to acquire Edinburgh Partners

    Franklin Templeton, an American global investment firm, has announced that it is to acquire Scottish fund management company Edinburgh Partners in the first half of this year.

    • 18 Jan 2018
  • Big name Barclays MDs at risk in investment bank cull

    Barclays rolled out sweeping cuts to its investment bank on Wednesday, with around 100 jobs gone across the business, including several managing directors in the EMEA primary bonds business.

    • 18 Jan 2018
  • Kakao pockets $1bn from GDR issue

    South Korean mobile messaging platform Kakao Corp raised $1bn this week from an issue of Global Depository Receipts (GDRs), defying fears it would suffer from its link to a cryptocurrency exchange.

    • 18 Jan 2018
  • Country Garden sets tongues wagging with $3bn combo

    Country Garden Holdings wowed the market this week with a HK$23.5bn ($3bn) print in both the equity and equity-linked formats, marking the largest convertible offering from a Chinese property developer.

    • 18 Jan 2018
  • Alfa to test appetite after Russian bank bloodbath

    Alfa-Bank will be the first Russian privately owned bank to test demand for additional tier one (AT1) securities since the write-down of capital bonds from Otkritie and Promsvyazbank.

    • 18 Jan 2018
  • Khazanah scoops up $321m from Citic-linked exchangeable sukuk

    Malaysia’s sovereign wealth fund Khazanah Nasional has sold a $320.8m exchangeable sukuk with Hong Kong-listed Citic Securities as the underlying stock, taking advantage of a rally in the broker’s shares.

    • 18 Jan 2018
  • Bond market revival gives second chance to debut issuers

    A receptive market and generous pricing worked in favour of China’s Concord New Energy Group and Indonesia’s Sawit Sumbermas Sarana (SSMS) this week, as both managed to pull off debut dollar bonds two months after failed attempts. Morgan Davis reports.

    • 18 Jan 2018
  • BeiGene nets $750m from ADS follow-on

    Chinese biopharmaceutical company BeiGene wrapped up a follow-on offering of its Nasdaq-listed American Depository Shares on Wednesday, raising a larger than expected $750m, according to a company statement.

    • 18 Jan 2018
  • Exotix adds to senior hires

    Exotix Capital, a frontier and emerging markets investment bank, has appointed a new global head of fixed income as part of a series of senior hires to expand its global presence.

    • 18 Jan 2018
  • Pan Brothers spins $150m three year deal

    Three bookrunners have kicked off primary distribution of an up to $150m revolver for Indonesian garment maker Pan Brothers.

    • 18 Jan 2018
  • Mizuho, MUFG open Panda market for Japan’s issuers

    Mitsubishi UFJ Financial Group (MUFG) and Mizuho Bank opened the Panda bond market for Japanese issuers on January 12, with both crossing the finish line on the same day.

    • 18 Jan 2018
  • People news in brief: January 18, 2018

    Crédit Ag’s Sodhi takes global role – Daiwa equity-linked banker exits – Deutsche builds up loans team – Nomura hires DCM banker – Mizuho names CEO – MUFG appoints Philippines head – Russell-Davison joins Amana Bank

    • 18 Jan 2018
  • Polyus Gold plans bonds after sale talk fails

    Polyus Gold has announced plans to issue a Eurobond, three days after terminating an agreement to sell a stake to Chinese investment company Fosun International.

    • 18 Jan 2018
  • Indonesia’s Tunas Baru secures maiden dollar bond sale

    Indonesia’s Tunas Baru Lampung printed its first international bond on Wednesday, a few months after attempting a transaction in Singapore dollars.

    • 18 Jan 2018
  • ‘Power of tech’ evident in Sunny’s aftermarket rally

    Sunny Optical Technology (Group) Company’s $600m bond debut tightened 15bp in the secondary market on its first day of trading, a clear sign of the rampant demand for technology credits. But despite the eye-catching tightening, even rival bankers thought the pricing was spot-on. Addison Gong reports.

    • 18 Jan 2018
  • Moody’s upgrades Mongolian sovereign rating

    Moody’s upgraded the government of Mongolia’s long-term issuer and senior unsecured ratings to B3 from Caa1 on Thursday.

    • 18 Jan 2018
  • India Exim kicks off roadshow for dollar bond

    Export-Import Bank of India has tapped five banks for a new dollar bond. Meetings with fixed income investors in Asia, Europe and the US kicked off on Thursday.

    • 18 Jan 2018
  • Vietnam bags $244m from BSR refinery sell down

    State-owned Vietnam National Oil and Gas Group (PetroVietnam) has raised D5.6tr ($244.3m) from the IPO of subsidiary Binh Son Refining and Petrochemical Company — nearly $100m more than anticipated.

    • 18 Jan 2018
  • Philippines opens Asia sovereign issuance

    The Republic of the Philippines is marketing Asia’s first sovereign bond of the year, taking bids for a 10 year SEC-registered deal on Thursday.

    • 18 Jan 2018
  • Bond buyers steam into Hidrovias debut

    Hidrovias do Brasil, the waterway logistics provider, drew a raucous reception on its international bond debut on Wednesday as the Brazilian company was able to price just inside where Rumo — its closest comp — issued last week, though just wide of where Rumo was trading.

    • 18 Jan 2018
  • Argentine duo to energise pipeline

    Energy companies Genneia and MSU Energy will begin meeting bond investors this week as they look to become the first corporates from Argentina to tap cross-border debt markets this year.

    • 18 Jan 2018
  • RMBi concerns Chinese national security, says ex-HK official

    Promoting RMB internationalisation is necessary for China to safeguard its national security, Anthony Leung, chairman and CEO of Nan Fung Group and former financial secretary of Hong Kong, told the Asian Financial Forum on January 16.

    • 18 Jan 2018
  • Two South African corporates expected to launch loans

    Two large South African corporates are due to refinance some loans in the coming weeks, according to bankers close to the deals, who expect activity in the country to be high this quarter.

    • 17 Jan 2018
  • Fibabanka revives senior dollar bond

    Fibabanka has restarted a dollar bond issue that it postponed last year.

    • 17 Jan 2018
  • PhosAgro puts out 'fair' guidance

    PhosAgro, a Russian phosphate-based fertiliser company, has released price guidance for a $500m 5.25 year bond that a banker away from the deal and an investor are calling “fair”.

    • 17 Jan 2018
  • Bulls abound at Euromoney’s CEE conference

    Attendees at Euromoney’s Central and Eastern Europe conference in Vienna, which was in full swing this week are bullish heading into 2018.

    • 17 Jan 2018
  • Second time’s the charm: Concord, SSMS find success

    China’s Concord New Energy Group and Indonesia’s Sawit Sumbermas Sarana (SSMS) sold their first dollar bonds on Tuesday, successfully completing transactions that were stymied just two months ago.

    • 17 Jan 2018
  • BPI board gives nod to $986m rights issue

    Bank of the Philippine Islands is preparing to issue a chunk of new stock through a rights offer, with a view to raise up to Ps50bn ($985.5m).

    • 17 Jan 2018
  • ZhengTong Auto winds up $380m loan with 19 on board

    Luxury auto dealership China ZhengTong Auto Services has wrapped up its latest borrowing at $380m.

    • 17 Jan 2018
  • Kakao hits screens with $1bn overnight GDR fundraising

    Kakao Corp, the South Korean mobile messaging platform, launched a Global Depositary Receipts offering of $1bn to the market on Wednesday.

    • 17 Jan 2018
  • Unmet demand pushes Sunny 15bp tighter in secondary

    Sunny Optical Technology (Group) Company priced a tight debut bond on Tuesday, with the notes tightening a further 15bp in secondary, showing the strength of demand for the technology sector. But despite the rally, pricing was considered spot-on by market participants.

    • 17 Jan 2018
  • Woori Bank returns to dollars in Taiwan

    South Korea’s Woori Bank sealed a $300m floating rate Formosa bond on Tuesday.

    • 17 Jan 2018
  • Shandong Saxing, Cifi build new bonds

    Chinese corn oil manufacturer Shandong Sanxing Group Company and real estate developer Cifi Holdings (Group) Co raised a combined $500m on Tuesday, adding to the growing momentum in the Asia bond market.

    • 17 Jan 2018
  • Country Garden bags $3bn in equity, equity-linked sale

    Country Garden Holdings pocketed HK$23.5bn ($3bn) from a dual-tranche sale of shares and convertible bonds on Tuesday, pricing the equity-linked portion at the best end for investors.

    • 17 Jan 2018
  • Amber Enterprises opens books for Rp6bn IPO

    Air conditioner manufacturer Amber Enterprises launched its IPO on Wednesday, gunning for Rp6bn ($93.8m) from the three day bookbuild.

    • 17 Jan 2018
  • Deutsche strengthens Asia loan origination with hire

    Deutsche Bank has beefed up its debt origination team in Asia with the addition of an experienced loans banker.

    • 17 Jan 2018
  • Senior equity-linked banker leaves Daiwa HK

    A senior equity-linked banker with Daiwa Capital Markets Hong Kong has left his position, sources close to the matter told GlobalCapital Asia.

    • 17 Jan 2018
  • Shenzhen International ends long wait for Panda

    Following nearly a year of waiting, red chip company Shenzhen International Holdings is finally gearing up for its Panda bond debut on the Shenzhen Stock Exchange. But the issuer appears to be cautious in its first outing, targeting only Rmb300m ($46.6m).

    • 17 Jan 2018
  • Country Garden unveils interbank Panda offer

    Property developer Country Garden Holdings is planning a return to the Panda bond market on Friday, after approaching onshore investors with a Rmb1.8bn ($279.8m) three year bond. It will be the first time the company has sold a Panda in the interbank bond market.

    • 17 Jan 2018
  • BeiGene launches $650m ADS follow-on

    Chinese biopharmaceutical company BeiGene is looking to raise about $650m from a follow-on offering of American Depository Shares (ADSs), according to a filing with the US regulator.

    • 17 Jan 2018
  • MUFG taps StanChart veteran for Philippine corporate banking

    Bank of Tokyo-Mitsubishi UFJ has appointed Marie Diana Lynn Coronel-Singson as head of global corporate banking for its Manila branch in the Philippines, effective Wednesday.

    • 17 Jan 2018
  • Brazilian airline lands tender

    Gol, the Brazilian low-cost airline, will buy back $21.3m of its outstanding 2020s after wrapping up a tender offer.

    • 17 Jan 2018
  • Mizuho LatAm debt MD leaves bank

    Carlos Vargas, managing director in Latin American DCM at Mizuho Securities USA, has left the bank, GlobalCapital understands.

    • 17 Jan 2018
  • UBS’s Hu: More countries to add RMB to reserves

    More central banks may add the Chinese currency to their FX reserves following Bundesbank’s indication to do so, Yifan Hu, regional chief investment officer and chief China economist at UBS, said at the Asian Financial Forum (AFF) on January 16.

    • 17 Jan 2018
  • Israel Chemicals trades up after Potash Corp sells $700m of shares

    UBS led the biggest Israeli follow-on offering for almost three years on Tuesday morning on behalf of the Potash Corp of Saskatchewan, the Canadian potash producer that recently merged with Agrium to create Nutrien.

    • 16 Jan 2018
  • Second Taptica International block attracts 40 orders

    Taptica International, the London-listed Israeli digital marketing solutions company, has raised £21.8m to finance future M&A in a £38m share sale that attracted substantial demand. The deal also provided an opportunity for its investors to monetise some of their investment in the company.

    • 16 Jan 2018
  • Ashmore inflows give EM bulls more reason to cheer

    Emerging markets debt investor Ashmore saw $3.6bn of inflows in the quarter running up to the end of December last year, a sign that syndicate bankers are taking as further proof that the bull market has plenty of gas left in the tank.

    • 16 Jan 2018
  • GEMS Education loan roadshow attracts crowd

    Dubai’s GEMS Education hosted a roadshow last week for a $1.25bn loan, which attracted a mix of local and international banks.

    • 16 Jan 2018
  • Mizuho International opens Dubai office

    Mizuho International (MHI) is expanding its presence in the Middle East and has opened an office in the Dubai International Financing Centre (DIFC). The bank has moved over a DCM banker from London to head the team, and is eyeing further expansion.

    • 16 Jan 2018
  • Guangxi Financial lands $500m amid SOE vs LGFV talks

    Guangxi Financial Investment Group Co raised $500m from its debut on Monday — a rather large amount for a sub-investment grade government-owned Chinese credit. But the deal was priced in line with comparables, despite bankers and some accounts viewing the credit differently.

    • 16 Jan 2018
  • Trio launches syndication for Xinjiang Goldwind

    A $300m debut international loan for Chinese wind turbine manufacturer Xinjiang Goldwind Science & Technology has entered primary syndication, after two lenders joined in the senior phase.

    • 16 Jan 2018
  • Dim sum bonds: here today, gone tomorrow

    China’s offshore renminbi bond market has made a strong start to the year, with two foreign issuers already selling dim sum notes. The signs for a robust 2018 are there but the market’s return to form will be contingent on more than just issuer interest.

    • 16 Jan 2018
  • Bank Sohar seeks $300m in general syndication

    Oman’s Bank Sohar has enlisted three lenders to arrange a $300m new money borrowing.

    • 16 Jan 2018
  • Anmol, Devi Seafoods mandate banks for India IPOs

    Anmol Industries has hired three banks to lead its flotation in India this year, which could raise around Rp10bn ($156m).

    • 16 Jan 2018
  • PetroVietnam readies three January IPOs

    State-owned energy conglomerate Vietnam National Oil and Gas Group (PetroVietnam) is preparing to launch IPOs for three of its subsidiaries this month as part of its privatisation plan, potentially raising a combined D12.31tr ($542.9m).

    • 16 Jan 2018
  • Crédit Agricole veteran Sodhi promoted to global DCM corporates head

    Crédit Agricole has named Atul Sodhi as head of global debt capital markets corporates, for which he will relocate from Hong Kong to Paris.

    • 16 Jan 2018
  • Cifi, Sunny, Sanxing take bids for bonds

    Three Chinese issuers are seeking fresh funding from the dollar bond market on Tuesday, with one wooing accounts for a comeback deal and the other two making their debuts.

    • 16 Jan 2018
  • China Hongqiao raises $798m to pare down debt

    China Hongqiao Group's shares fell after it completed a HK$6.2bn ($798m) top-up placement on Monday to pay down some of its debt.

    • 16 Jan 2018
  • Concord New Energy makes second attempt at dollar bond

    China’s Concord New Energy Group is hoping for second time lucky in the dollar bond market, opening books for a new green deal on Tuesday, about two months after a failed attempt.

    • 16 Jan 2018
  • Argentine energy company contemplates tap

    Genneia could return to international bond markets soon, according to market participants in Argentina, after the energy company’s board approved an increase of its global bond programme.

    • 16 Jan 2018
  • Share and share alike: China D-shares ready to take off

    China's listed companies are set to sell stock directly to European investors. The first listing of an A-share company on the China Europe International Exchange (Ceinex) in Frankfurt will happen by June this year. Investment banks have already been mandated, GlobalCapital Asia's sister publication GlobalRMB has reported.

    • 16 Jan 2018
  • MUFG goes local in Panda debut

    Mitsubishi UFJ Financial Group (MUFG) has become the first Japanese issuer to tap the Panda bond market, crossing the finishing line on the same day as Mizuho Bank. The issuer focused on attracting local investors in its debut deal, raising Rmb1bn ($154m) from the onshore market.

    • 16 Jan 2018
  • Trafigura Pte launches $4.5bn revolving credit facility

    Trafigura’s Singaporean entity Trafigura Pte launched a $4.5bn revolving credit facility on Monday to refinance two loans taken out over the last two years.

    • 15 Jan 2018
  • Mizuho makes cautious Panda debut

    Mizuho Bank opened the Japanese Panda bond market on January 12, sharing the title of first issuer in the category with Mitsubishi UFJ Financial Group (MUFG). But instead of aiming for a blockbuster transaction, Mizuho treaded carefully – raising just Rmb500m ($77m) from the debut deal.

    • 15 Jan 2018
  • EM bond fund flows stay strong

    Fund flows into emerging market bond funds hit a 76 week high in the week ending January 12, according to EPFR data, culminating a week of strong primary markets that a wobble in US Treasuries could do nothing to derail.

    • 15 Jan 2018
  • HDFC gets green light for $2bn fundraising

    India’s Housing Development Finance Corp has won approval from its committee of directors to raise up to Rp129.9bn ($2.05bn) in fresh capital.

    • 15 Jan 2018
  • Updated: Tata Steel mandates 21 for up to $2.16bn six year loan

    India's Tata Steel has lined up a group of 21 lenders for an up to $2.16bn six year loan, which will be launched into primary syndication in a couple of weeks, said bankers close to the deal.

    • 15 Jan 2018
  • Chinese issuers fuel offshore bond sale

    Chinese issuers Peking University Founder Group, Bank of Communications Financial Leasing Co, Geely Automobile Holdings and Jinjiang International Holding are meeting investors this week ahead of planned dollar and euro bond sales.

    • 15 Jan 2018
  • Nomura nabs ex-Barclays banker for DCM

    Nomura has hired veteran banker Guy Smith as head of DCM and acquisition and leveraged finance for Asia ex-Japan, effective Monday.

    • 15 Jan 2018
  • Indonesia exchange evacuated after floor collapses

    The Indonesia Stock Exchange has been evacuated after a part of the building, thought to be a floor, collapsed on Monday.

    • 15 Jan 2018
  • Indian, Indonesian issuers ready dollar bonds

    Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.

    • 15 Jan 2018
  • China Hongqiao seeks $798m of new equity after tough 2017

    China Hongqiao Group has opened books on a HK$6.2bn ($798m) top-up placement, in yet another Hong Kong equity block deal to be launched with a fixed price.

    • 15 Jan 2018
  • Xiaomi-backed Huami gets ball rolling on $150m US listing

    Huami Corp, backed by Chinese mobile internet and electronics brand Xiaomi, is eyeing the Nasdaq stock exchange for a $150m IPO of American Depository Shares (ADSs).

    • 15 Jan 2018
  • Guangxi duo explore international debt market

    Two issuers from the Guangxi province of China, Guangxi Financial Investment Group Co and Guangxi Communications Investment Group Corp, are hitting the dollar bond market for funds.

    • 15 Jan 2018
  • China Jinmao nets $426m from pre-weekend placement

    China Jinmao Holdings Group raised HK$3.3bn ($425.8m) from a fixed price offering of new shares through a top-up placement last Friday.

    • 15 Jan 2018
  • The week in renminbi: PBoC’s Yi sees room for improvement for RMBi, CBRC warns Chinese banks on risk, Citic forecasts strong cross-border RMB demand

    The deputy governor of China’s central bank believes the country is punching below its weight on renminbi internationalisation, the Chinese banking watchdog stresses the need to prevent risk, and China Citic Bank International projects strong demand for cross-border RMB transactions in the first quarter.

    • 15 Jan 2018
  • SGX ready to give no quarter

    In the latest Clawback, columnist Philippe Espinasse puts the Singapore Exchange's proposal on quarterly reporting by companies under the microscope.

    • 15 Jan 2018
  • Lat Am rush to keep pace with jumbo trade imminent

    After Latin America made a record start to 2018, bankers expect primary supply to keep flowing at a strong pace —despite investors already fretting about the tight pricing on new deals.

    • 15 Jan 2018
  • Former Torino man joins EM hedge fund

    The co-founder of emerging markets broker Torino Capital has joined a hedge fund as portfolio manager — just over half a year after he left the business he built.

    • 15 Jan 2018
  • Gansu Bank nets $756m from HK IPO

    Bank of Gansu Co has raised HK$5.9bn ($756.4m) after pricing its IPO at the midpoint of guidance, according to a banker on the deal.

    • 12 Jan 2018
  • Chinese energy names nab combined $1bn

    Power Construction Corporation of China (PowerChina) and Yingde Gases Group Co each sold a $500m bond on Thursday, taking advantage of a receptive market.

    • 12 Jan 2018
  • US investors buoy Tencent’s $5bn jumbo deal

    Chinese internet company Tencent Holdings added an impressive $5bn to its coffers on Thursday from its first international bond since 2015. While pricing looked fair, what surprised the leads was the strong participation from US investors.

    • 12 Jan 2018
  • Century-old Osotspa plans $400m IPO on Thailand bourse

    Thailand’s Osotspa is planning a flotation of up to $400m on the domestic bourse this year, said bankers working on the trade.

    • 12 Jan 2018
  • China sticks with US Treasuries – for now

    The State Administration of Foreign Exchange (Safe) has poured cold water over claims that China may stop buying US Treasury bonds. But there is a need for the country to diversify its debt portfolio in the long run if it is serious about promoting RMB internationalisation, economists told GlobalRMB.

    • 12 Jan 2018
  • Trans Media tunes in for $301m fundraising

    A $301m-equivalent five year refinancing for Trans Media Corpora has been launched into general syndication by five mandated lead arrangers and bookrunners.

    • 12 Jan 2018
  • Chinese real estate trio navigate busy Thursday

    Three Chinese property companies, Jiayuan International Group, Golden Wheel Tiandi Holdings Company and SEA Holdings, have managed to meet their respective funding targets despite hitting the dollar bond market on a crowded day.

    • 12 Jan 2018
  • Petron attracts investors to $500m bond

    Philippine oil company Petron Corp seized $500m from a tightly priced perpetual bond on January 11, winning over investors with a step-up structure.

    • 12 Jan 2018
  • RMB round-up: China touts RMB IPOs in HK for Belt and Road, international investors up stake in Chinese bonds, Li Keqiang unveils 2017 GDP figure

    The Chinese government contemplates RMB-denominated IPOs for mainland companies fundraising for Belt and Road projects, foreign ownership of Chinese bonds goes up in December, and premier Li Keqiang indicates the economy grew by 6.9% in 2017.

    • 12 Jan 2018
  • Hong Kong blocks heat up as NWS, ZhengTong Auto sell stakes

    Equity investors had their fill of block trades in Hong Kong on Thursday, with three completed successfully — and two even managing to raise more than intended.

    • 12 Jan 2018
  • Yes Bank makes quick comeback for new loan

    India’s Yes Bank is extending a fundraising spree that began last year, and is back in the overseas loan market for the third time since August 2017.

    • 12 Jan 2018
  • China Maple Leaf seals HK$1bn top-up on stock surge

    China Maple Leaf Educational Systems has added HK$1bn ($127.9m) to its coffers after selling a chunk of shares through a top-up placement, capitalising on a recent jump in its stock price.

    • 12 Jan 2018
  • Hyundai Oilbank mandates for $1.9bn IPO

    Hyundai Oilbank, a subsidiary of shipbuilding giant Hyundai Heavy Industries, has appointed six firms to run its potential multi-billion-dollar listing expected later this year.

    • 12 Jan 2018
  • Corporates step up as Lat Am roars on

    Four Latin American corporates priced a total of $3bn of new debt on Thursday, as investors said they were grateful for the chance to get their hands on new paper but not overly enthused about the yields on offer.

    • 11 Jan 2018
  • Rumo improvements keep bond investors on track

    The CFO of Brazilian railroad operator Rumo told GlobalCapital that improvements in the company’s credit metrics allowed it to successfully issue in dollars on Wednesday, despite the issuer not guaranteeing the bonds with its main operating company as it had for its previous deal.

    • 11 Jan 2018
  • Mexico wraps funding needs with swift euro outing

    Mexico issued in euros for the first time since 2016 on Tuesday, coming tight to its dollar curve and wrapping up its external funding for needs for the year already.

    • 11 Jan 2018
  • Turkey USD2bn 5.125% Feb 28

    • 11 Jan 2018
  • Macedonia books over €3.5bn as final terms set

    Macedonia on Thursday set final terms for a €500m seven year bond at 3%, the tight end of price guidance at 3.125% area, with books over €3.5bn.

    • 11 Jan 2018
  • Puma Energy Holdings USD750m 5% Jan 24

    • 11 Jan 2018
  • Petkim and PhosAgro hit the road for dollars

    Two CEEMEA corporates hit the road this week to gauge investor interest for dollar bonds — Turkish petrochemical manufacturer Petkim Petrokimya Holding (Petkim) and Russian phosphate fertiliser company PhosAgro .

    • 11 Jan 2018
  • Sultanate of Oman triple tranche $1.25bn 4.125% Jan 23, $2.5bn 5.625% Jan 28, $2.75bn 6.75% Jan 48

    • 11 Jan 2018
  • Massive books in EM as Treasury blip fails to derail buy-side bid

    Several big name investors this week called the start of a bond bear market after a back-up in 10 year US Treasury yields but there was little sign of reticence from the emerging markets buy-side, with three sovereigns pulling in jumbo order books.

    • 11 Jan 2018
  • Jefferies nabs third co-head of EM credit trading and sales

    Jefferies has hired a new co-head of European emerging market credit trading and sales from Barclays.

    • 11 Jan 2018
  • Oman locks in $6.5bn, trades up on break

    Strong demand enabled Oman to secure a larger than expected $6.5bn of funding on Wednesday, taking it a considerable way towards covering its Omr3bn ($7.8bn) deficit for 2018.

    • 11 Jan 2018
  • Israel takes whopping book

    Investors piled in excess of $12.5bn orders into a dual tranche dollar trade for Israel on Wednesday, the largest level of oversubscription the sovereign has ever experienced.

    • 11 Jan 2018
  • Rumo rides UST volatility to begin Brazil barrage

    Brazilian railroad operator Rumo clinched its second dollar bond on Wednesday, offering a pick-up to its previous deal and building a hefty order book in the process.

    • 11 Jan 2018
  • Unifin to keep Lat Am FIG moving after Interbank return

    Mexican non-bank lender Unifin Financiera is plotting a subordinated perpetual deal, according to bond market sources, after Peru’s Interbank became the latest Latin American financial name to issue on Wednesday.

    • 11 Jan 2018
  • Macedonia books over €3.5bn as final terms set

    Macedonia has set final terms for its first international bond in over a year, with books for the deal hitting over €3.5bn

    • 11 Jan 2018
  • Alibaba makes up with HKEX after dual-class shares get OK

    Jack Ma, one of the founders of technology giant Alibaba Group Holding, said this week he will seriously consider listing the company in Hong Kong, which has finally approved dual-class share IPOs. It is a sign of what lies ahead for the city’s stock exchange, writes Jonathan Breen.

    • 11 Jan 2018
  • IL&FS cooks up first HY dim sum since 2016

    India’s IL&FS Transportation Networks sold a Rmb900m ($138.21m) offshore renminbi bond on Wednesday, making it the first high yield issuer to seal a deal in the market in more than 16 months.

    • 11 Jan 2018
  • Updated: Ford China starts engine for 2018 auto ABS race

    Ford Automotive Finance (China) is preparing for a Rmb4bn ($614m) deal in the onshore asset-backed securities market – the first by a foreign originator in 2018. But the carmaker is not in the mood for change in the New Year, sticking with the same format it printed in last August.

    • 11 Jan 2018
  • Adnoc to tap Japanese lenders for $3bn

    Abu Dhabi National Oil Co (Adnoc) is due to sign a $3bn loan with four lenders — three of which are Japanese — next week, after borrowing $6bn from the international market in November last year.

    • 11 Jan 2018
  • NWS, Maple Leaf jump on share rally to sell block deals

    The equity block trade market is heating up in Hong Kong as shares continue to rally, with banks launching one sole mandate after another.

    • 11 Jan 2018
  • Real estate issuers pay up to seal bond deals

    Chinese property companies bombarded the dollar market this week in an attempt to use their regulatory issuance quotas and seal deals before Chinese New Year. But with more borrowers expected to vie for investor attention, issuers will need to navigate the market carefully — and be ready to pay up. Morgan Davis reports.

    • 11 Jan 2018
  • India to be a bright spot for loan syndications in first quarter

    Indian loan activity has got off to a steady start, with a large borrowing for companies under the Tata Group, including Tata Steel, due to be mandated shortly. Lacklustre credit demand from Indian firms may become a thing of the past as market participants are betting on a pick-up in momentum from the country this year. Shruti Chaturvedi reports.

    • 11 Jan 2018
  • China Water Affairs sails in for $200m five year

    China Water Affairs has returned to the international loan market after two years for a $200m fundraising.

    • 11 Jan 2018
  • ICTSI entices investors with fixed-for-life perp

    International Container Terminal Services, a Philippine port operator, sold a fixed-for-life perpetual bond on Wednesday, braving the market despite US Treasury volatility shaking investors’ nerves.

    • 11 Jan 2018
  • Agricole puts green banker in Asia

    Crédit Agricole has moved one of its sustainable banking specialists to Asia, hoping to capitalise on what it expects to be a growing market for green bonds.

    • 11 Jan 2018
  • Investors jump into rare SBLC-backed bond

    Chinese city commercial bank Bank of Shanghai Co priced a rare bond backed by a standby letter of credit (SBLC) on Wednesday, seeing an over five times covered book but leaving a few basis points on the table.

    • 11 Jan 2018
  • LGFV supply starts strong as Zhongyuan Yuzi nabs $300m

    Zhongyuan Yuzi Investment Holding Group Co sold the first offshore bond from a Chinese local government financing vehicle (LGFV) on Wednesday, pricing it 15bp inside analysts’ fair value estimates.

    • 11 Jan 2018
  • Tencent, Petron in the mix on seven-bond Thursday

    A slew of Chinese issuers are wooing dollar bond investors on Thursday, as Philippine company Petron Corp also competes for buy-side attention.

    • 11 Jan 2018
  • New Sports Group eyes $128m follow-on to double shares

    New Sports Group will double its share capital with two placements that aim to raise a combined HK$1bn ($128m), said the company.

    • 11 Jan 2018
  • ZhengTong Auto takes $211m block for a spin

    China ZhengTong Auto Services Holdings opened books on Thursday morning for an up to HK$1.6bn ($211m) capital increase.

    • 11 Jan 2018
  • Bulgarian stock ETF comes to Deutsche Boerse through Expat

    Expat Asset Management has joined German exchange group Deutsche Boerse as a new exchange traded fund issuer, debuting with an ETF that provides exposure to Bulgarian stocks.

    • 10 Jan 2018
  • Turkey grabs $2bn as US Treasury sell-off bites EM

    The Republic of Turkey sold a $2bn 10 year bond on Tuesday just as a sell-off in US Treasuries took hold, but it still managed to raise a book of $5.3bn for the deal.

    • 10 Jan 2018
  • Sell-off weighs on EM new issues

    Though bankers may have expected the first quarter of 2018 to play out with a glory run of slam dunk deals, a recent back-up in US Treasury yields has left some big name investors calling the start of a bear market in bonds.

    • 10 Jan 2018
  • Israel on track to extend curve

    The State of Israel opened books on Wednesday for a dual tranche dollar note that will extend its curve by an extra five years.

    • 10 Jan 2018
  • TSKB bags big book despite sovereign competition

    Turkiye Sinai Kalkinma Bankasi batted away suggestions on Tuesday that its deal would suffer from pricing on the same day as the Turkish sovereign, printing a $350m five year bond from a book of $1.15bn and 15bp inside initial price guidance.

    • 10 Jan 2018
  • Oman navigates choppier markets with triple tranche note

    Oman has hit the screens with a copycat trade of its 2017 triple tranche $5bn note, navigating a more volatile market than it may have hoped for after a back-up in US Treasuries on Tuesday.

    • 10 Jan 2018
  • Greater China property companies build offshore momentum

    Dollar investors had plenty of Chinese property bonds to choose from this week, with four issuers competing for their attention on Tuesday. But with no end in sight to the pipeline, companies will have to navigate the market carefully, or cough up a premium for their bonds.

    • 10 Jan 2018
  • Puma pulls in $750m with early pounce

    Puma Energy made a strong start for non-financial corporate issuers on Monday, making full use of investor familiarity with the credit — and some excess cash — to make its $750m market return.

    • 10 Jan 2018
  • PhosAgro markets dollar bond

    PhosAgro, a Russian phosphate-based fertiliser company, is embarking on a series of investor meetings to market a five to seven year dollar bond.

    • 10 Jan 2018
  • Goldman makes outside hires for Asia ECM, equity-linked

    Goldman Sachs has added two senior executives to its investment banking division in Hong Kong who will focus on equity and equity-linked products.

    • 10 Jan 2018
  • ICTSI jump starts Philippine dollar bond market

    Philippine company International Container Terminal Services (ICTSI) opened books for a fixed-for-life dollar perpetual bond on Wednesday, making it the first issuer to take advantage of the country’s ratings upgrade last month.

    • 10 Jan 2018
  • Chinese supply continues to dominate Asia DCM

    Chinese issuers BOSC International, a local government financing vehicle from Henan, Lai Fung Holdings and Hilong Holding are in the market with new deals on a busy day for issuance.

    • 10 Jan 2018
  • CALC takes new route in Chinese dollar ABS

    China Aircraft Leasing Group Holdings (CALC) has sealed a rare asset-backed securities deal in the onshore market — the first dollar-denominated ABS to be publicly traded. But while the transaction holds symbolic significance, the format is unlikely to become the norm for the Chinese ABS market.

    • 10 Jan 2018
  • IL&FS returns for dim sum bond

    India’s IL&FS Transportation Networks launched an offshore renminbi bond on Wednesday morning, following Westpac Banking Corp’s opening of the dim sum market earlier this week.

    • 10 Jan 2018
  • Tencent prepares for Thursday bond outing

    Chinese technology giant Tencent Holdings is taking feedback from global investors for a 144A/Reg S transaction, and is looking to hit the market on Thursday morning.

    • 10 Jan 2018
  • KBank maximises on rarity value for tight print

    Thailand’s Kasikornbank prioritised price over size for its return to the bond market this week, selling a $400m deal at a level that forced some investors to stay away.

    • 10 Jan 2018
  • AirAsia chief talks up potential listing of India business

    AirAsia head honcho Tony Fernandes hinted at a potential IPO for the budget airline group’s India arm through his Twitter account on Wednesday.

    • 10 Jan 2018
  • PBoC U-turns on tight currency grip

    The People’s Bank of China has reportedly tweaked the way it sets the daily renminbi fix against the dollar, abandoning a key control mechanism it introduced last May. While some analysts hail the move as a sign of confidence from China, others say it exposes the failure of the PBoC’s previous FX policy.

    • 10 Jan 2018
  • SC Lowy sells stake to strategic investors

    SC Lowy, a fixed income-focused banking and finance group, has sold 20% of its shares to a group of strategic investors.

    • 10 Jan 2018
  • Zhenro Properties rakes in $510m from Hong Kong IPO

    Chinese real estate developer Zhenro Properties Group has bagged HK$3.99bn ($510m) after pricing its IPO near the top of guidance, according to a source close to the deal.

    • 10 Jan 2018
  • Telkom hunts for €1bn acquisition financing

    Telekomunikasi Indonesia (Telkom) has asked banks to submit bids for a €1bn financing to support its M&A activities, said a banker whose firm is in the race for the mandate.

    • 10 Jan 2018
  • Pakistan shakes up IPO process to boost listings

    Pakistan’s securities regulator has overhauled its IPO rules to make the country’s bookbuilding process more market-friendly.

    • 10 Jan 2018
  • Interbank plans first Peruvian trade of 2018

    Peruvian lender Interbank (Banco Internacional del Perú) is planning to raise $200m of new five year debt on Wednesday to become the first Peruvian borrower in the bond markets in 2018.

    • 10 Jan 2018
  • Mexico clinches euros with slim pick-up to dollars

    Bankers following Mexico’s second trade in less than a week said that the sovereign had managed to price its euro deal impressively tight to its dollar curve as the government wrapped up its funding needs for the year.

    • 10 Jan 2018
  • QNB’s loan underwrite shows only partial market confidence

    Qatar National Bank (QNB) launched a $3bn loan on Monday, the first real test of the market since Qatar’s Gulf Cooperation Council (GCC) neighbours severed diplomatic ties with the sovereign. Nine banks have agreed to underwrite the full amount ahead of general syndication, showing initial fears have subsided. But the test is not over — will Qatar’s other relationship banks step up?

    • 09 Jan 2018
  • QNB follows ADCB to Formosa

    Two banks from the Gulf Corporation Council (GCC) have turned to Taiwan to raise dollar funding already this year, with Abu Dhabi Commercial Bank (ADCB) printing $540m and Qatar National Bank (QNB) printing $720m in Formosa trades.

    • 09 Jan 2018
  • European equities benefit from China's Blue Sky thinking

    European stock markets have enjoyed a solid start to 2018, led by a metals and commodities rally that has been strengthening since the beginning of autumn. But the market must consider whether the good times are organic or due to temporary measures in China.

    • 09 Jan 2018
  • UOB priced in line with Westpac

    United Overseas Bank in Singapore was able to price a seven year euro covered bond in line with Westpac on Tuesday. Although UOB was unable to match the pricing of DBS Bank, it achieved 'remarkable traction' with second and third tier investors across Europe.

    • 09 Jan 2018
  • Kivinen replaces Greenbaum at Deutsche

    Petri Kivinen is joining Deutsche Bank from Morgan Stanley to fill the gap left by David Greenbaum, who was the bank’s head of origination for corporate and financials in CEEMEA.

    • 09 Jan 2018
  • Oman Gas to sign $1bn club loan

    Oman Gas Co, Oman’s midstream natural gas transportation company, is expected to sign a $1bn loan with a club of banks.

    • 09 Jan 2018
  • Taqa prices out banks on $1.25bn loan

    Abu Dhabi Energy Co (Taqa) has signed a $1.25bn loan with a small club as some banks were deterred by the deal’s tight pricing.

    • 09 Jan 2018
  • Mexico returns to euros

    The United Mexican States has released price guidance on its first euro bond for over a year.

    • 09 Jan 2018
  • TSKB under scrutiny as sovereign arrives

    The Turkish sovereign has mandated three banks for its usual start of year dollar bond while Turkiye Sinai Kalkinma Bankasi released guidance for its note. But the latter drew criticism for going head to head with its sovereign.

    • 09 Jan 2018
  • Kuwait’s parliament approves 30 year debt

    Kuwait could become the latest Gulf Corporation Council sovereign to issue 30 year debt after its parliament approved a bill allowing the government to raise its borrowing ceiling to KD25bn ($83bn), and to issue international debt out to 30 years.

    • 09 Jan 2018
  • Bankers confident of success as Puma Energy returns

    Puma Energy has returned to the debt markets to redeem its outstanding 2021s and in doing so will provide investors with a nice lump of cash to reinvest in a new offering of debt.

    • 09 Jan 2018
  • Westpac dim sum opens offshore renminbi supply

    Westpac Banking Corp raised Rmb500m ($77m) from a three year offshore renminbi bond on Monday, becoming the first dim sum note issuer of 2018.

    • 09 Jan 2018
  • Belt and Road Pandas finally come of age

    DCM bankers often market Panda bonds as Belt and Road bonds, even when they have little to do with China’s landmark infrastructure plan. But in recent weeks, issuers with genuine needs for funding Belt and Road projects have started to tap the market. The change could open up a new frontier for RMB internationalisation.

    • 09 Jan 2018
  • Trans Media plans new loan outing

    Trans Media Corpora, the TV broadcasting arm of Indonesian conglomerate CT Corp, is due to launch a new borrowing into general syndication soon, according to two bankers working on the transaction.

    • 09 Jan 2018
  • Fried chicken brand Kyochon eyes Korea listing

    Kyochon F&B, operator of South Korean fried chicken franchise Kyochon Chicken, is considering a domestic IPO, according to sources familiar with the matter.

    • 09 Jan 2018
  • Longfor Properties solidifies IG and sector appeal

    Investors lapped up Longfor Properties Co’s $800m bonds on Monday, in a vote of confidence not just for the investment grade rated Chinese company but also the broader property industry.

    • 09 Jan 2018
  • KBank entices accounts to rare Thai credit

    Thailand’s Kasikornbank is in the market with a 5.5 year dollar bond, some 15 months after its last appearance in the offshore debt market

    • 09 Jan 2018
  • PowerChina, BOSC International to meet investors for bonds

    Power Construction Corporation of China (PowerChina), Bank of Shanghai subsidiary BOSC International Company and financial services firm Guangxi Financial Investment Group Co are testing investor appetite for new bonds.

    • 09 Jan 2018
  • VietinBank taps loan market for new $100m financing

    Vietnamese state-owned VietinBank is back in the loan market with a $100m fundraising, this time with one lender at the helm.

    • 09 Jan 2018
  • India launches $228m sell down in NMDC

    The Indian government has launched an up to Rp14.45bn ($227.7m) offer for sale of stock in mining company NMDC.

    • 09 Jan 2018
  • Greater China property companies target dollar investors

    Property companies Country Garden Holdings Co (CoGard), Times Property Holdings, Tahoe Group Co and Wharf Real Estate Investment Company hit the dollar debt market in force on Tuesday.

    • 09 Jan 2018
  • Brazilian waterway company to float bond plans

    Hidrovias do Brasil, the Brazilian waterway logistics provider, will begin meeting investors on Wednesday as it plans a debut international bond sale.

    • 09 Jan 2018
  • JSL back with 2024 tap

    Brazilian logistics firm JSL returned to dollar markets on Monday to tap the 7.75% July 2024 notes it sold in its debut deal in July last year.

    • 09 Jan 2018
  • Blocks market starts rolling with first Mavi Jeans sale

    The equity block trades market in EMEA opened the week on Monday night with a TL496m ($132m) sale of stock in Mavi Jeans, the Turkish jeans maker that floated in Istanbul last year. The trade was covered inside an hour.

    • 08 Jan 2018
  • Turkish private hospital group launches IPO

    MLP Sağlık Hizmetler, also known as MLP Care, the largest private healthcare provider in Turkey, has begun investor education for its flotation on Borsa Istanbul, in which it hopes to raise about TL500m ($133m) of primary proceeds.

    • 08 Jan 2018
  • EIB alone in dollars as AIIB mulls June debut

    The European Investment Bank is set to bring its first core currency trade of the year, after hiring banks on Monday for a March 2023 global dollar benchmark. Despite a strong start to the year for the currency last week, no other dollar deals from SSAs are on screen — but a new issuer could join in the next few months.

    • 08 Jan 2018
  • Cafill, Erste and UOB mandate leads for covered bonds

    The pace of covered bond supply is expected to remain fast on Tuesday, with as many as three issuers mandating lead managers for benchmark deals.

    • 08 Jan 2018
  • EM bullish as corps push ahead of sovs

    Two corporate issuers are making early moves into the capital markets this year without waiting for sovereign issuers to establish benchmarks, showing the strength of funding conditions in emerging market debt, said bankers.

    • 08 Jan 2018
  • QNB confidently launches $3bn loan

    Qatar National Bank has launched a $3bn loan with nine banks underwriting the facility.

    • 08 Jan 2018
  • Turkish corporate prepares ground for debut

    Petkim Petrokimya Holdings, the largest petrochemical company in Turkey, has received approvals to issue an international bond of up to $500m.

    • 08 Jan 2018
  • GlobalCapital ECM Awards 2017: our poll is open

    The poll is open for GlobalCapital’s Equity Capital Markets Awards for 2017 and we invite market participants to have their say on the best performers of last year.

    • 08 Jan 2018
  • Jindal Steel eyes Rp10bn from debut QIP

    Jindal Steel and Power is planning its first qualified institutional placement, aiming to raise around Rp10bn ($157.8m).

    • 08 Jan 2018
  • ChemChina's $5.5bn refi heads into general

    A $5.5bn senior secured loan to refinance China National Chemical Corp’s (ChemChina) outstanding debt has been launched into general syndication by 16 mandated lead arrangers and bookrunners.

    • 08 Jan 2018
  • Puma Energy readies dollar bond sale

    Singapore’s Puma Energy Holdings began speaking with investors on Monday ahead of a new dollar bond issuance that will redeem its existing 2021s.

    • 08 Jan 2018
  • Unrated Yankuang scores $300m from tap

    Chinese state-owned coal miner Yankuang Group Company wrapped up the first week of 2018 with a quick tap of its debut bond, raising $300m on Friday.

    • 08 Jan 2018
  • Varroc Engineering targets first half for India IPO

    India’s Varroc Engineering has hired a trio of banks to lead an IPO timed for the first half of the year, according to a source close to the deal.

    • 08 Jan 2018
  • Westpac set for new dim sum bond

    Westpac Banking Corp is poised to sell the first offshore renminbi bond of the year, opening books for a three year trade on Monday.

    • 08 Jan 2018
  • CoGard-led real estate trio market bonds

    Country Garden Holdings Company (CoGard) and SEA Holdings are planning their comebacks to the offshore debt market, while Wharf Real Estate Investment Co is set to test its luck with accounts for the first time.

    • 08 Jan 2018
  • The week in renminbi: Regulators tighten bond repo rules, China’s FX reserves at $3.14tr, BOC completes RMB payment for Chinese diplomats

    Chinese financial regulators publish fresh rules on the bond market to control leverage, China’s FX reserves grow again to $3.14tr in December, and Bank of China completes a RMB salary payment for Chinese diplomats abroad after the central bank’s call to push for cross-border RMB transactions.

    • 08 Jan 2018
  • Longfor rolls out dual tranche dollar deal

    Longfor Properties Co returned to the dollar market on Monday for its second investment grade deal in six months.

    • 08 Jan 2018
  • Marfrig joins pipe after ground-breaking Lat Am week

    After Latin American issuers burst into the market in the first week of the year for the first time ever, Brazilian meatpacker Marfrig became the fifth company from the region to announce a roadshow and keep up primary market momentum.

    • 08 Jan 2018
  • JP Morgan sells $350m exchangeable into Dufry to hedge derivatives

    JP Morgan launched on Thursday January 4 the first European equity-linked bond of the year: a $350m bond exchangeable into shares of Dufry, the Swiss duty free retailer. The deal is designed to hedge derivatives positions the bank already held on Dufry shares.

    • 05 Jan 2018
  • Angola commits to debt obligations, eyes liability management

    After spooking the market with allusions to debt ‘renegotations’ earlier this week, the Angolan Ministry of Finance has issued a statement saying it “stands behind all the debt obligations to its lenders.” It added that it will look to buy back its short term debts, while looking to obtain better terms on long term debts.

    • 05 Jan 2018
  • Macedonia looks for maturity extension in euros

    Republic of Macedonia has named three banks to arrange investor meetings for a combined buyback and new euro-denominated bond as the Southeast European sovereign looks to extend its maturity profile.

    • 05 Jan 2018
  • Four BRI countries get direct access to onshore FX market

    China has relaxed access to the onshore renminbi (CNY) foreign exchange market for overseas banks based in Cambodia, Kazakhstan, Mongolia and Thailand, all countries that fall under the Belt and Road initiative, GlobalRMB has learned.

    • 05 Jan 2018
  • RMB round-up: PBoC in fresh push for RMBi, HSBC eyes BRI business with Warsaw desk, ABC gets green light for Hanoi, Macau branches

    The People’s Bank of China announces new rules to promote cross-border RMB transactions, HSBC plans to launch a new service in Poland to capture business opportunities related to the Belt and Road Initiative, and Agricultural Bank of China obtained approvals for new branches in Southeast Asia.

    • 05 Jan 2018
  • China to loosen outbound grip in 2018

    With growing demand for overseas investment, Chinese regulators could release new outbound investment quotas in 2018 by rebooting the qualified domestic institutional investor (QDII) programme and launching a two-way ETF Connect with Hong Kong.

    • 05 Jan 2018
  • Updated: GLP jumps on Belt and Road bandwagon with new Panda

    Chinese regulators have given their blessing to Global Logistics Properties (GLP) returning to the Panda market. The company is putting a Belt and Road spin to the issuance programme, even though proceeds are going towards a recent acquisition in Western Europe.

    • 05 Jan 2018
  • MUFG sets sight on January Panda deal

    Mitsubishi UFJ Financial Group (MUFG) is preparing to sell a Rmb1bn ($154m) three year bond before the end of January, GlobalRMB understands. The financial institution has become the second Japanese issuer in two weeks to secure a Panda bond programme.

    • 05 Jan 2018
  • Vietnam state oil refinery readies $154m January IPO

    Binh Son Refining and Petrochemical Co is preparing to launch an IPO of at least D3.5tr ($154.3m) later this month.

    • 05 Jan 2018
  • Tata Motors' £640m refi heavily oversubscribed

    The response to Tata Motors' £640m ($839m) refinancing has been phenomenal, with the loan generating commitments exceeding $1bn, said bankers close to the situation.

    • 05 Jan 2018
  • Citic starts year with $750m trade

    Chinese conglomerate Citic became one of the first movers in the dollar debt market this week, raising $750m from a dual-tranche bond on Thursday.

    • 05 Jan 2018
  • IL&FS raises curtain on 2018 dim sum market

    India’s IL&FS Transportation Networks is laying the groundwork for the first offshore renminbi bond of the year, mandating banks on Friday.

    • 05 Jan 2018
  • Provincial LGFV Zhongyuan Yuzi preps for debut

    Zhongyuan Yuzi Investment Holding Group Co, a local government financing vehicle in China’s Henan province, is sounding out investors for its inaugural dollar bond.

    • 05 Jan 2018
  • Yankuang Group keeps investors busy with tap

    Chinese state-owned coal miner Yankuang Group Company is making a swift comeback to the debt market after its debut just over a month ago, looking to add to its existing three year. Guangzhou R&F Properties Co, meanwhile, sold a quiet $100m tap on Thursday at a slight discount to the original notes.

    • 05 Jan 2018
  • Idea Cellular board approves $1.1bn fundraising

    Idea Cellular’s board of directors has given it the go-ahead to raise up to Rp67.5bn ($1.1bn) in fresh capital, according to an exchange filing.

    • 05 Jan 2018
  • Lai Sun subsidiary markets dollar bond

    Property developer Lai Fung Holdings will kick off a roadshow next week for a new dollar bond.

    • 05 Jan 2018
  • ICTSI to lead year’s southeast Asia bond supply

    Philippine company International Container Terminal Services (ICTSI) will meet investors in Asia and Europe next week for a senior guaranteed perpetual bond.

    • 05 Jan 2018
  • S P Setia set to meet investors for $300m share sale

    Malaysia’s S P Setia will hit the road soon to market a MR1.2bn ($300.5m) placement to institutional investors, said a banker involved in the transaction.

    • 05 Jan 2018
  • Argentina blockbuster up in grey as Lat Am lights up early

    Below-freezing temperatures in New York that left several EM bond market participants working from home on Thursday could not stop Latin American borrowers from bringing early heat to 2018.

    • 04 Jan 2018
  • Brazilian corporate duo line up dollar trades

    Two Brazilian companies could tap international bond markets as soon as next week after announcing fixed income investor meetings.

    • 04 Jan 2018
  • Mexico lays down benchmark with dual tranche

    The head of Mexico’s public credit office told GlobalCapital that the Latin American sovereign had been particularly keen to set a strong precedent for the country’s issuers after it kicked off a potentially volatile year with a $3.2bn blowout dual-tranche.

    • 04 Jan 2018
  • SSAs and sovereigns split on retail under new distribution rules

    As the first trades of the new year hit the screen this week, one new line stuck out in the deal announcements — a specification that the target market for the issue would only be eligible counterparties and professional clients, a piece of boilerplate to comply with the new MiFID II rules.

    • 04 Jan 2018
  • Republic of Slovenia EUR1.5bn 1% March 28

    • 04 Jan 2018
  • Two PXFs join Russia pipeline

    Siberian Coal Energy Co (Suek) and Russian Copper Co are expected to sign pre-export finance facilities after launching their deals before the end of 2017.

    • 04 Jan 2018
  • Competition for Russian loans to ramp up despite new sanctions

    International banks are expecting competition in the Russian loan market to heat up even further than it did over the course of last year, regardless of the onset of further sanctions from the US. Bianca Boorer reports.

    • 04 Jan 2018
  • Cabei eyes SSA status, dollar benchmark

    A new dollar benchmark could be on the cards for multilateral lender Central American Bank for Economic Integration (Cabei), the bank’s CFO told GlobalCapital, as the issuer looks to increase its appeal to traditional SSA investors by gaining double-A ratings.

    • 04 Jan 2018
  • EM borrowers expected to front-load as Slovenia sets tone for busy month

    Emerging market borrowers will front-load their funding tasks in 2018, according to several EM bankers who are predicting a busy month.

    • 04 Jan 2018
  • Slovenia scores with lowest ever coupon

    The Republic of Slovenia brought forward a euro-denominated trade by as much as a week in order to take advantage of a strong issuance window, which enabled it to increase the size of its deal by €500m to €1.5bn, according to Marjan Divjak, director general of Slovenia’s debt management office.

    • 04 Jan 2018
  • Robust IPO pipeline gives banks hope for bumper 2018

    Equity syndicates expect a robust IPO pipeline to power strong issuance in the first half of this year, which could set 2018 up to surpass what was a good 2017.

    • 04 Jan 2018
  • Israel chooses dollars for first trade of 2018

    Israel has returned to dollars for its first trade of 2018, picking leads for a dual tranche 10 and/or 30 year bond.

    • 04 Jan 2018
  • Confusion over Angola ‘restructuring’ but bilateral renegotiations expected

    Angola left emerging market fund managers confused on Wednesday, after announcing that it was looking to renegotiate the terms of its outstanding external debt. But while the news initially filled the buy-side with dread, analysts believe that the sovereign is referring to a renegotiation of its bilateral debt, though a Eurobond restructuring is still possible.

    • 04 Jan 2018
  • Gulf crisis deters Chinese banks from Doha Bank loan extension

    Qatar’s Doha Bank extended a $575m loan that was scheduled to mature at the end of last year but it did not extend the whole amount as the deal's Chinese lenders pulled out.

    • 04 Jan 2018
  • Slovenia scores with tightest ever spread

    Slovenia took full advantage of its early market move on Thursday to secure its tightest ever spread, and what it expects to be its lowest coupon, on a new euro-denominated note.

    • 04 Jan 2018
  • People news in brief, January 4, 2018

    Standard Chartered has brought a former banker at Citi out of retirement to run its Greater China and North Asian business.

    • 04 Jan 2018
  • Tata Steel, HDFC prepare for chunky equity raises

    Tata Steel has mandated a clutch of firms to underwrite its Rp128bn ($2bn) rights offering, part of a wider fundraising by the group across the capital markets.

    • 04 Jan 2018
  • Sebi decree gives India QIP volumes a leg up

    India’s qualified institutional placement (QIP), a popular equity fundraising tool, is about to get a shot in the arm after the regulator said it may be used by companies to meet their free float requirements. Listed firms could tap the market in droves over the next few years as they look to comply with the rules, writes John Loh.

    • 04 Jan 2018
  • Resolutions made, resolve still lacking

    At some point on Christmas Day, after I had polished off several plates of turkey with all the trimmings, six mince pies and half a Christmas pudding, I began to wonder whether or not I was living a healthy lifestyle. I decided that, yes, I probably was.

    • 04 Jan 2018
  • Asia opens year with green bond after record-breaking 2017

    Will 2018 be yet another record year for Asia’s green bond market? The signs were good this week. Swire Properties chose the format for the region’s first dollar bond of the year. Addison Gong reports.

    • 04 Jan 2018
  • Shelved Ant-MoneyGram deal casts cloud over China M&A

    Asia’s leveraged finance bankers started the year hopeful that volumes would pick up. However, US regulators have already undermined those hopes, blocking Ant Financial’s high-profile acquisition of local firm MoneyGram, calling into question the chances of further outbound deals from China. Shruti Chaturvedi reports.

    • 04 Jan 2018
  • Indian IPOs at full throttle as 2018 activity begins

    The Indian IPO market has started the new year with a flourish, with the FIG sector looking especially busy as Bandhan Bank and ICICI Securities kicked off investor meetings.

    • 04 Jan 2018
  • Xiabuxiabu shares raise HK$982m in first 2018 block

    General Atlantic Singapore raised HK$982.2m ($125.6m) on Thursday after upsizing a sale of Xiabuxiabu Catering Management China Holdings stock in Hong Kong’s first block trade of the year, according to a source close to the deal.

    • 04 Jan 2018
  • Chow Tai Fook rolls out $1.3bn five year fundraising

    Activity in the Hong Kong loan market has made a robust start to the year, with a big loan for Chow Tai Fook entering syndication.

    • 04 Jan 2018
  • H-share convertibility boon is just wishful thinking

    The Chinese regulator’s decision to kick-start a pilot scheme that will allow mainland-based holders of Hong Kong-listed stocks to convert them into H-shares is a big move, with many advantages for both stockholders and the city’s equity market. But it’s not time to crack open the champagne just yet. If the past is any example, progress will be slow at best.

    • 04 Jan 2018
  • UBS nabs Credit Suisse banker to run Korea

    Former Credit Suisse investment banker Byungil Lim will start at UBS next week, taking charge of the bank's South Korean operations, according to a source familiar with matter.

    • 04 Jan 2018
  • Yingde Gases tees up deal to meet looming maturity

    China’s Yingde Gases Group Co has mandated banks for its first dollar bond sale in more than three years.

    • 04 Jan 2018
  • Mexico gathers huge book to blow open Lat Am bonds

    Mexico returned to its habitual role of opening the Latin American bond markets for the year on Wednesday with a $2.6bn trade including a tap of its 2048s to make the most of an exceptionally flat curve.

    • 04 Jan 2018
  • BlackRock, Fidelity kick off 2018 private fund race

    Foreign asset managers in China have started the New Year in style. Fidelity International launched two funds on January 2, covering onshore equity and fixed income, after receiving its private fund management (PFM) licence last May. The move came less than a week after BlackRock got the regulatory green light for its own PFM licence.

    • 04 Jan 2018
  • Citic launches dual tranche trade

    Chinese conglomerate Citic began marketing a dual tranche dollar bond on Thursday morning, nearly a year after its last debt sale.

    • 04 Jan 2018
  • Emerging Markets: LatAm’s land of opportunities shows no sign of slowing

    Latin America faces elections in three of its largest economies this year, but bond market participants are feeling confident, after technicals helped 2017 to defy all expectations and with economic activity set to improve in 2018. Oliver West reports.

    • 03 Jan 2018
  • Emerging Markets: Private bank woes continue but strong outlook for Russian corps

    The fall-out from the failure of private lender Otkritie continues to weigh on Russia’s financial sector, but heavy bond redemptions and higher oil prices are expected to support corporate issuance in 2018. Virginia Furness and Bianca Boorer examine the outlook for Russia’s capital markets.

    • 03 Jan 2018
  • Emerging Markets: Middle East debt markets roll with the punches

    As 2018 begins in Middle Eastern debt markets, there is much to do, and much to contend with. Investors in the region are used to unrest and tension but it has started to crop up in unexpected places. Francesca Young and Bianca Boorer report.

    • 03 Jan 2018
  • Emerging Markets: Bond markets look to new frontiers despite rate rise fears

    While US Fed rate rises and the ECB’s tapering of its QE programme could knock some of the froth off the top of exuberant EM debt markets next year, there will still be plenty of opportunities for debut and frontier issuers to raise cash in innovative ways. Virginia Furness reports.

    • 03 Jan 2018
  • Emerging Markets: Investors face crunch year as rates tick up

    Emerging market bonds had a fantastic 2017, with issuance volumes the highest on record and returns the highest in global fixed income. But with rates ticking up and EM valuations looking stretched, 2018 will be a much trickier year for investors to navigate. Virginia Furness reports.

    • 03 Jan 2018
  • Oman makes early move to help fund $7.8bn deficit

    Oman became the first CEEMEA borrower to hit the screens this year with an official mandate. It has named five lead managers to arrange a triple tranche dollar bond as it looks to fund a Omr3bn ($7.8bn) budget deficit for 2018.

    • 03 Jan 2018
  • Two more PXFs join Russia deal pipeline

    Siberian Coal Energy Co (Suek) and Russian Copper Co are expected to sign pre-export finance facilities after launching their deals before the end of 2017.

    • 03 Jan 2018
  • No hangover for EM with 2018 off to sprightly start

    Emerging market bond fund managers say they are markedly more optimistic than 12 months ago when the "whole world was negative" after the start of Donald Trump’s US presidential term. And with plenty of sovereign trades rumoured for January, there is an abundance of investment opportunities.

    • 03 Jan 2018
  • South Africa’s MTN Group heads to Taipei for NDR

    South African telecommunications company MTN Group is holding a non-deal roadshow in Taipei this month.

    • 03 Jan 2018
  • Tata Steel and Jio-RComm loans in spotlight

    India’s Tata Steel has issued indicative pricing for a borrowing totalling $2.15bn, which will mainly refinance debt at its Singaporean and Dutch units.

    • 03 Jan 2018
  • Pizza Hut's Indonesia owner eyes first half listing

    The owner of Indonesia’s Pizza Hut franchise has hired three banks as lead underwriters on an IPO slated for this year, said sources close to the matter.

    • 03 Jan 2018
  • New Year round-up: PBoC to maintain monetary policy stance, Pakistan backs RMB payments, RMB rebounds in global payments race

    China’s central bank will hold on to its 'neutral and prudent' monetary policy, the central bank of Pakistan encourages businesses to trade with China in renminbi, and the Chinese currency regains its position as the sixth most used global payments currency.

    • 03 Jan 2018
  • Citic lays groundwork for return to dollars

    Chinese conglomerate Citic has named banks to lead its first dollar bond sale of the year.

    • 03 Jan 2018
  • BOCHK promotes veteran Gao to chief executive

    Bank of China Hong Kong has appointed a long-serving employee of the group as its new chief executive.

    • 03 Jan 2018
  • StanChart hires former Citi banker for Greater China

    A 30-year banking veteran has joined Standard Chartered to lead one of the most important regions for the firm’s corporate and institutional banking strategy.

    • 03 Jan 2018
  • Lat Am bond market ready to roll after quiet first day

    After a record 2017, Latin America bond markets had a quiet start to 2018 on Tuesday but syndicate bankers covering the region said that they had a hefty pipeline and would start bringing deals as soon as possible.

    • 03 Jan 2018
  • Huali Uni Group joins HK education IPOs list

    Guangdong province-based Huali University Group filed a draft IPO prospectus with the Hong Kong bourse this week, following a stream of Mainland private education providers that listed in the city in 2017.

    • 03 Jan 2018
  • Swire Properties kicks off 2018 supply with green bond

    Swire Properties is set to become Asia ex-Japan's first issuer of international bonds in the new year, opening books for a 10 year dollar green deal on Wednesday morning.

    • 03 Jan 2018
  • CMP seeks Panda funds to buy Sri Lanka port

    China Merchants Port Holdings is returning to the Panda bond market for a Rmb500m ($76.8m) deal to fund its acquisition of a port in Sri Lanka — a flagship project under China's Belt and Road Initiative (BRI).

    • 03 Jan 2018
  • Deutsche EM banker makes CFO switch

    Deutsche Bank’s head of origination for corporate and financials in CEEMEA has moved to one of the bank’s clients as chief financial officer.

    • 02 Jan 2018
  • Steinhoff 2015 figures to be restated, prior years may change

    Steinhoff International, the retail conglomerate listed in Johannesburg and Frankfurt, said on Tuesday that its numbers for 2015 were unreliable and that prior years may also need to be restated.

    • 02 Jan 2018
  • Russia’s Mechel to further restructure $1bn PXF

    Russian mining and metals producer Mechel has successfully obtained sufficient support from its lenders to go ahead with further restructuring a $1bn syndicated loan facility.

    • 02 Jan 2018
  • EM bond market braced for heavy load in January

    Emerging market borrowers will front-load their funding tasks in 2018, according to several EM bankers who are predicting a busy month.

    • 02 Jan 2018
  • 2017 Bond Deals of the Year: Emerging Markets

    For CEEMEA bonds, 2017 was a record breaking year and one which pushed the boundaries of product, tenor, and issuer. The $200bn of bonds raised in CEEMEA, and the $140bn raised in Latin America are the highest annual volumes on record. Investors’ seemingly insatiable appetite for EM debt fuelled massive inflows into the asset class and kept the many idiosyncratic risk events – from Qatar’s regional isolation to deteriorating relations between Turkey and the US– contained. Picking out the deals of the year for 2017 was not easy for GlobalCapital’s editorial team, but after much deliberation the below were chosen.

    • 02 Jan 2018
  • Isbank leasing launches loan

    Is Financal Kiralama (Is Leasing), Isbank’s leasing arm, is expected to sign a $75m loan which it has mandated Bank ABC to arrange.

    • 02 Jan 2018
  • CSRC gives nod to pilot programme for full H-share convertibility

    The China Securities Regulatory Commission (CSRC) is going ahead with a pilot programme to fully float Hong Kong-listed shares, although the plan will be limited to three companies in the initial stage.

    • 02 Jan 2018
  • Gansu Bank covers $784m HK listing

    Chinese regional lender Bank of Gansu Co has covered the books for its Hong Kong IPO, which could raise HK$6.1bn ($783.9m) at the top of guidance, according to a banker on the deal.

    • 02 Jan 2018
  • NTPC fires up 10yr loan in primary

    A $350m-equivalent yen denominated borrowing for Indian power financier National Thermal Power Corp (NTPC) has entered primary syndication, testing the market’s appetite for a 10 year maturity.

    • 02 Jan 2018
  • China’s SF Holding, Geo-Jade Petroleum plot new bonds

    Chinese logistics services provider SF Holding Co and upstream oil and gas firm Geo-Jade Petroleum Corp are planning to sell dollar bonds this year.

    • 02 Jan 2018
  • Sebi relaxes India QIP, Reit rules to spur issuance

    The Securities and Exchange Board of India (Sebi) will allow listed companies to sell shares through qualified institutional placements as a way to meet free float requirements.

    • 02 Jan 2018
  • ANZ hires from Deutsche for India markets business

    ANZ has appointed a new head of markets for India, naming Mumbai-based Rohit Bhasin to the position.

    • 02 Jan 2018
  • Hyundai Heavy plans $1.9bn Oilbank IPO

    South Korean shipbuilder Hyundai Heavy Industries is planning to list its refining arm Hyundai Oilbank this year, according to an ECM banker involved in the discussions.

    • 02 Jan 2018
  • Argentina sets $30bn financing needs, targets more domestic funding

    Luis Caputo, Argentina’s finance minister, said that the sovereign will raise $30bn of new debt across domestic and external markets in 2018, as the government intends to continue reducing its financing from the central bank.

    • 02 Jan 2018
  • Bandhan Bank, Ireda lay groundwork for India floats

    India’s Bandhan Bank is set to start pre-marketing its $700m IPO this month, according to bankers arranging the deal.

    • 02 Jan 2018
  • Swire Properties eyes new green bond

    Hong Kong’s Swire Properties is gearing up to become one of the first offshore bond issuers of the year, taking feedback from the market for a potential dollar-denominated green deal.

    • 02 Jan 2018
  • Shandong Chenming Paper prepares dollar debut

    China’s Shandong Chenming Paper Holdings is ready to start the new year with its first dollar bond issuance.

    • 02 Jan 2018
  • Gol to buy back $21m via tender after earning upgrade

    Brazilian low cost airline Gol is set to buy back more bonds after investors owning $21.191m of its existing 9.25% 2020s agreed to sell their notes as part of a tender offer launched on December 14.

    • 01 Jan 2018

Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 9,101.19 25 13.65%
2 HSBC 8,154.12 28 12.23%
3 Deutsche Bank 7,109.78 16 10.66%
4 JPMorgan 5,097.35 16 7.65%
5 Standard Chartered Bank 3,055.20 19 4.58%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 4,285.53 5 9.12%
2 Deutsche Bank 3,977.43 2 8.46%
3 HSBC 3,768.59 4 8.02%
4 JPMorgan 2,812.07 8 5.98%
5 Bank of America Merrill Lynch 1,803.06 7 3.84%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 3,402.03 8 20.98%
2 HSBC 2,253.75 3 13.90%
3 Deutsche Bank 1,703.96 4 10.51%
4 Standard Chartered Bank 1,518.77 3 9.37%
5 JPMorgan 1,507.04 3 9.29%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

Bookrunners of Central and Eastern Europe: Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 ING 3,668.64 29 9.07%
2 UniCredit 3,440.98 25 8.50%
3 Sumitomo Mitsui Financial Group 3,156.55 13 7.80%
4 Credit Suisse 2,801.35 8 6.92%
5 SG Corporate & Investment Banking 2,478.18 21 6.12%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 Jan 2018
1 Standard Chartered Bank 126.67 2 3.90%
2 Sumitomo Mitsui Financial Group 81.25 1 2.50%
2 SG Corporate & Investment Banking 81.25 1 2.50%
2 Morgan Stanley 81.25 1 2.50%
2 JPMorgan 81.25 1 2.50%