• Vivat bonds tumble as Beijing takes control

    Outstanding bonds issued by Vivat NV, the Dutch insurance group, suffered on Friday morning after its parent company Anbang Insurance Group was seized by Chinese authorities — but a sale to a European firm could provide an upside for bondholders.

    • 23 Feb 2018
  • Indonesia’s landmark green bond wakes up market

    The Government of the Republic of Indonesia raised $1.25bn on Thursday in the first green sukuk from a sovereign, paving the way for more green issuance from Asian countries.

    • 23 Feb 2018
  • HKEX releases guidelines on dual listings, dual class

    The Hong Kong Stock Exchange (HKEX) has released its long-awaited guidelines on dual-class shares, with the move set to allow Chinese firms such as Alibaba Group Holdings to have a secondary listing in the city for the first time.

    • 23 Feb 2018
  • Fund managers back Redco’s short-dated note

    Redco Properties Group priced an opportunistic transaction on Thursday, raising a larger-than-expected $300m. Unlike some other 364-day deals, its transaction saw strong support from real money accounts.

    • 23 Feb 2018
  • RHB Bank acquires 100% of Vietnam Securities Corp

    Malaysia’s RHB Bank is deepening its presence in Vietnam with the full acquisition of Vietnam Securities Corp (VSEC), a stock brokerage and corporate finance outfit.

    • 23 Feb 2018
  • PBoC’s Xu: ‘Super central bank’ a global phenomenon

    China is aligning itself with central banks around the world by giving the People’s Bank of China a leading role in regulating financial markets, Xu Zhong, head of the research bureau at the PBoC, has argued.

    • 23 Feb 2018
  • Far East Horizon doubles up with dollars and renminbi

    Chinese leasing firm Far East Horizon was one of the first issuers to reopen the international bond market after a lull of more than a week, raising $300m from a dual-currency transaction on Thursday. But it was forced to pay up for the dollar portion due to lingering volatility in the market.

    • 23 Feb 2018
  • Sembcorp eyes $632m from India energy arm spin-off

    Singapore-listed Sembcorp Industries is planning to spin-off and list its Indian energy unit, which will raise Rp41bn ($632.2m) from a fresh issue of stock, according to a draft red herring prospectus filed on Thursday.

    • 23 Feb 2018
  • Tata Steel loan shrinks to $1.7bn after successful bond

    India's Tata Steel, which mandated a group of 21 lenders last month for a new loan, has shrunk the size of the fundraising following a blowout bond issuance.

    • 23 Feb 2018
  • RMB round-up: Insurance watchdog takes over Anbang, Fullerton makes private fund debut in China, RMB stays fifth in payments ranking

    The China Insurance Regulatory Commission (CIRC) takes control of Anbang Insurance Group amid concerns over its finances, Fullerton Fund Management offers its first private fund in the onshore market, and the renminbi remains the fifth most used payments currency in January 2018.

    • 23 Feb 2018
  • Evidence builds of tighter green bond pricing

    A new study of green bond pricing has stopped short of saying that green bond issuers can generally expect to get tighter new issue premiums. But the report’s lead author did say: “Green bond buyers can’t expect to receive a new issue premium — that is itself quite a bold statement.”

    • 22 Feb 2018
  • OCBC's covered bond size ambitions thwarted

    Overseas Chinese Banking Corporation (OCBC) had adequate demand to print a €500m five year covered bond on Thursday, and though it was unable to reach the upper end of its size ambitions, it was able to issue the tightest Singaporean covered bond in euros.

    • 22 Feb 2018
  • Turkey marches towards Panda debut

    The Republic of Turkey is preparing to issue its first Panda bond by the end of the year, having mandated three banks to handle the deal.

    • 22 Feb 2018
  • Foreign bankers sceptical as IRFC eyes Japanese for 10 year loan

    Indian Railway Finance Corp has turned heads in the loan market with its request for up to $250m of 10 year money. While some market participants balked at the idea of 10 year commercial loans, those at the firm’s main target audience — Japanese banks — think the deal is worth a look. Shruti Chaturvedi reports.

    • 22 Feb 2018
  • Southeast Asia ECM pipeline fills up in Year of the Dog

    The pipeline for equity capital raisings out of Southeast Asia is filling up nicely, with issuers from the Philippines, Vietnam, Bangladesh and Singapore looking to launch deals.

    • 22 Feb 2018
  • Indian banks’ QIP plans hit for six by PNB revelation

    Indian state-owned Punjab National Bank sent shockwaves through the country’s financial system last week when it disclosed a $1.8bn fraud at one of its branches. The timing could not have been worse, with the announcement casting a shadow over other public sector banks, most of which are in dire need of capital, writes Jonathan Breen.

    • 22 Feb 2018
  • People and markets news in brief, February 22, 2018

    MUFG Securities Asia has named Royal Bank of Scotland veteran Pierre Ferland as its new chief executive.

    • 22 Feb 2018
  • Indonesia sukuk gives fillip to nascent green market

    The Government of the Republic of Indonesia’s green sukuk is a game changer for the region, giving a boost to a green sovereign bond market that has so far had scant issuance globally.

    • 22 Feb 2018
  • Chinese issuers return to the bond market

    Chinese issuers are back following the Lunar New Year break. Far East Horizon and Redco Properties Group are both wooing bond investors, effectively reopening the dollar debt market in Asia.

    • 22 Feb 2018
  • UOB issues sterling first as OCBC lines up in euro covereds

    United Overseas Bank issued its debut covered bond in sterling on Wednesday, and the first from a Singaporean bank. Despite being its maiden deal, UOB was able to match the spread of more established sterling issuers. At the same time, Overseas Chinese Banking Corporation (OCBC) has mandated for a euro covered bond benchmark.

    • 21 Feb 2018
  • Sebi cracks whip on banks for retail IPO work

    The Securities and Exchange Board of India (Sebi) is cracking the whip on banks managing IPO applications for retail accounts, saying investors may have to be compensated under certain conditions.

    • 21 Feb 2018
  • Rupiah debt gets entry into bond index

    Indonesian rupiah-denominated debt will be eligible for the Bloomberg Barclays Global Aggregate Bond Index for the first time from June 1.

    • 21 Feb 2018
  • PBoC touts bond reform amid deleveraging, opening up

    The People’s Bank of China has laid out its next moves to upgrade the domestic bond markets, including better market standards, clearer default rules and further opening to foreign investors — steps that could make regulators less active in the corporate debt market.

    • 21 Feb 2018
  • VPBank Finance’s $200m borrowing opens in general

    VPBank Finance is tapping international loan market liquidity for an up to $200m three year facility, which has two lenders at the helm.

    • 21 Feb 2018
  • Far East Horizon cooks up dollar and dim sum bonds

    Chinese financial services provider Far East Horizon is pursuing the sale of a dollar-denominated and offshore renminbi bond.

    • 21 Feb 2018
  • MUFG Securities names new Asia CEO

    MUFG Securities Asia has appointed Royal Bank of Scotland veteran Pierre Ferland as its new chief executive officer, effective on February 20.

    • 21 Feb 2018
  • HG Infra preps Rp4.6bn India listing

    HG Infra Engineering is planning to launch its Rp4.7bn ($72.4m) IPO in India at the end of February.

    • 21 Feb 2018
  • Chinese New Year round-up: Safe relaxes onshore rules on FX forwards, HSBC completes RMB remittance first, US blocks Chinese bid to buy stock exchange

    China’s FX watchdog loosens its grip on FX forward settlement, HSBC becomes the first foreign bank to handle an individual RMB remittance transaction following a rule change in January and the Securities and Exchange Commission (SEC) stopped an attempt by Chinese investors to acquire the Chicago Stock Exchange.

    • 21 Feb 2018
  • HSBC misses RMB business target for 2017

    HSBC's annual results show the bank's focus on RMB business has yet to translate into revenue growth.

    • 21 Feb 2018
  • Canara Bank hires five for Rp45bn QIP

    Indian state-owned Canara Bank has appointed a five-strong syndicate group to run a potential Rp45bn ($695.7m) qualified institutional placement (QIP), according to a senior banker on the deal.

    • 20 Feb 2018
  • Idea Cellular calls investors for Rp35bn share sale

    Idea Cellular has raised Rp35bn ($541.8m) from a qualified institutional placement (QIP) as it prepares for a mega merger with the Indian unit of network carrier giant Vodafone.

    • 20 Feb 2018
  • PNB Housing looks to IFC to anchor debut Masala

    India’s PNB Housing Finance is preparing to make its debut in the offshore rupee bond market and has turned to the International Finance Corp (IFC) to make sure the deal goes off without a hitch.

    • 20 Feb 2018
  • Give me a hand: A night of poker with old friends

    Are poker skills correlated with deep insights into the financial markets? I certainly hope not.

    • 20 Feb 2018
  • IRFC has 'fingers crossed' for $250m 10 year loan

    Indian Railway Finance Corp has approached offshore lenders for a financing of up to $250m-equivalent in Japanese yen. But the company may struggle to generate demand from maturity-shy Japanese lenders, said a banker familiar with the deal.

    • 20 Feb 2018
  • Flemingo Travel eyes Rp24bn in fresh capital from IPO

    Flemingo Travel Retail has filed a draft red herring prospectus with India’s stock market regulator. The company plans to go public using a mix of new and existing shares.

    • 20 Feb 2018
  • MidEast trade finance experts see opportunities in political climate

    A hardening of the US attitude to Iran, tensions with Turkey and the Qatari crisis may be closing some doors for trade in the Middle East but experts are convinced it is opening others, with China's One Belt, One Road initiative pushing countries such as China, India and Russia towards the region.

    • 19 Feb 2018
  • SGX promises Nifty successor products

    Singapore Exchange on Monday revealed that it would replace its Nifty products with suitable successors by August to ensure that investors could maintain exposure to Indian markets.

    • 19 Feb 2018
  • Kexim plots public dollars, prints Swissie

    Export-Import Bank of Korea (Kexim) is planning a return to the dollar bond market in the first half of this year, but the policy bank has reduced its overall funding target. It also went to the Swiss franc market this week.

    • 15 Feb 2018
  • UOB considers debut sterling covered bond

    United Overseas Bank has mandated joint leads for a covered bond roadshow in the UK with a view to potentially issuing its sterling debut. Singapore peer DBS Bank undertook a roadshow in the UK two years ago but did not follow up with a deal.

    • 15 Feb 2018
  • Idea Cellular on track with Rp35bn QIP

    India's Idea Cellular opened books for a qualified institutional placement of up to Rp35bn ($547.4m) after getting final approval for the deal from its board of directors on Wednesday.

    • 15 Feb 2018
  • Ganfeng Lithium seeks greenlight for HK IPO

    Ganfeng Lithium Co, the world’s largest producer of lithium metals, has filed a draft IPO prospectus with the Hong Kong Stock Exchange.

    • 15 Feb 2018
  • San Miguel Pure Foods eyes $1.5bn follow-on

    Philippine food and beverage conglomerate San Miguel Pure Foods Co is planning to tap the local equity capital markets for up to $1.5bn, according to an exchange filing on Wednesday.

    • 14 Feb 2018
  • Debt bankers shrug off Macau’s rating upgrade

    Fitch upgraded Macau’s long term foreign currency issuer rating to AA from AA- on Tuesday on the back of strengthened financials, but the boost is unlikely to spur more bond issuance from the region, said bankers.

    • 14 Feb 2018
  • Non-call events weigh on market watchers as rates rise

    A Chinese company’s decision to pay an extra 300bp in coupon to defer payments on its onshore perpetual notes has not only shocked the domestic bond market, but also inevitably raised concerns offshore. Bankers and investors are now paying much closer attention to the onshore/offshore dynamics.

    • 14 Feb 2018
  • Baidu's iQiyi sets ball rolling for US IPO

    Baidu-backed video streaming platform iQiyi has filed documents with the US market regulator for a listing of American Depository Shares (ADS), according to the Chinese parent company’s quarterly earnings report released on Tuesday.

    • 14 Feb 2018
  • Shenzhen Stock Exchange to woo tech IPOs

    The Shenzhen Stock Exchange (SZSE) may adjust its profitability and share structure requirements for IPOs as technology-oriented listings come to the fore.

    • 14 Feb 2018
  • Tianli Education plans Hong Kong IPO

    Tianli Education International Holdings filed a draft IPO prospectus with Hong Kong’s stock exchange on Tuesday, joining the ever-growing group of Chinese education firms listing in the city.

    • 14 Feb 2018
  • JPM nails world first with RMB clearing mandate

    JP Morgan has become the first non-Chinese financial institution to get an official renminbi clearing bank licence, joining Bank of China's New York branch as the second such firm in the US, the People’s Bank of China said on February 13.

    • 14 Feb 2018
  • Singapore eyes first Bangladeshi IPO in Summit Power

    Singapore is set to host its first IPO from Bangladesh, with Summit Power looking to hit screens in early March, said bankers close to the deal.

    • 13 Feb 2018
  • MS names new heads of Apac FIG and financial sponsors group

    Morgan Stanley has appointed Simon Herrmann as head of Asia Pacific financial institutions group and Mohamed Atmani to head the region’s financial sponsors group, according to internal memos seen by GlobalCapital Asia.

    • 13 Feb 2018
  • Lenovo plugs in for $1bn new money borrowing

    Chinese smartphone and laptop maker Lenovo Group has approached lenders in the offshore loan market for a $1bn fundraising.

    • 13 Feb 2018
  • Korea postpones widening of foreign investor capital gains tax

    South Korea’s Ministry of Strategy and Finance (MOSF) has decided to suspend its plan to lower the threshold for capital gains tax on foreign shareholders of local stock.

    • 13 Feb 2018
  • Ronshine squeezes $100m tap through narrow window

    Ronshine China Holdings became the only Asian issuer to sell a dollar bond this week in the run-up to Chinese New Year. But the company ended up bagging a mere $100m from its tap, despite rumours it was eyeing as much as $225m.

    • 13 Feb 2018
  • Vingroup mulls $1bn housing unit spin-off

    Vingroup is considering the spin-off and listing of its residential business Vinhomes in a deal that could be worth around $1bn, according to a source familiar with the matter.

    • 13 Feb 2018
  • GMR Infrastructure picks banks for IPO of airport arm

    India’s GMR Infrastructure has mandated three banks for the spin-off and listing of its airports unit, according to sources close to the matter.

    • 13 Feb 2018
  • CCB, Citic CLSA lead Jiangxi Bank's Hong Kong IPO

    Jiangxi Bank has filed a draft prospectus for its Hong Kong IPO, with the Chinese lender appointing two firms as sponsors.

    • 13 Feb 2018
  • Kexim prints in Swiss francs as market proves 'resilient'

    The Export-Import Bank of Korea (Kexim) printed in Swiss francs on Monday. That was a sign, said bankers in Zurich, that the market is more resilient than others in times of broader volatility, and could welcome more emerging market names in the coming months.

    • 12 Feb 2018
  • Kexim eyes dollar bond return

    The Export-Import Bank of Korea (Kexim) is plotting its return to the dollar bond market in the first half of this year, but the policy bank has reduced its overall funding target.

    • 12 Feb 2018
  • Top Glove loan cruises to oversubscription

    A $310m two-part borrowing to support Malaysian surgical glove maker Top Glove Corp’s acquisition of Aspion is oversubscribed, with a handful of banks committing to the deal.

    • 12 Feb 2018
  • IPO roundup: Spandana preps $150m deal, Indostar eyes $300m

    Indian micro-finance lender Spandana Sphoorty Financial is in the process of mandating banks for a potential $150m IPO, according to a banker at a firm pitching for the deal.

    • 12 Feb 2018
  • Ronshine tap offers glimmer of activity before CNY

    Those bankers and investors who hoped for a small burst of activity before Chinese New Year were left disappointed on Monday, when Ronshine China Holdings became the only issuer from Asia ex-Japan to launch a dollar bond.

    • 12 Feb 2018
  • Sino-Ocean keeps Panda party going

    Sino-Ocean Property Holdings has extended the streak of Panda bonds issued since the start of 2018. The real estate issuer sealed a Rmb3bn ($476.2m) three year deal – its second Panda in two weeks – at the wide end of the price guidance range last Thursday.

    • 12 Feb 2018
  • Aster DM Healthcare nets eight IPO anchor investors

    Aster DM Healthcare has brought in eight investors including Caisse de dépôt et placement du Québec and First State Investments to anchor its Rp9.8bn ($152.7m) IPO in India.

    • 12 Feb 2018
  • The week in renminbi: China sets date for oil futures launch, Philippines wins approval for Panda debut, offshore investors hold more Chinese bonds

    China unveils plans to kick start RMB-denominated oil futures next month, the Philippines gets regulatory greenlight for its Panda bond issuance, and foreign ownership of bonds in the interbank bond market rises again in January.

    • 12 Feb 2018
  • Huami weathers US equity rout as shares pop on debut

    A tightly allocated book helped Huami Corp weather the storm in equity markets, with the New York Stock Exchange-listed company closing 2% higher on its debut.

    • 09 Feb 2018
  • Golden Eagle hunts for $500m facility with five

    Chinese department store operator Golden Eagle International Trading is back in the overseas loan market after a gap of three years for a $500m financing.

    • 09 Feb 2018
  • Funding arbitrage encourages Sinochem to cook up dim sum

    Sinochem Hong Kong (Group) Company has raised Rmb1bn ($158m) from a dim sum bond, reviving the sector for corporate issuers from the Mainland. Although market sentiment was not ideal, the issuer still managed to achieve a ‘good saving’ compared to both its onshore funding level and the likely funding cost it would face with a dollar deal.

    • 09 Feb 2018
  • Qingdao Haier mulls debut D-share listing in Germany

    Mainland consumer electronics giant Qingdao Haier is considering launching a flotation of Chinese D-shares on the Frankfurt-based China Europe International Exchange (Ceinex).

    • 09 Feb 2018
  • Golden Energy pays Asia’s highest bond coupon this year

    Indonesia’s Golden Energy and Resources nabbed $150m from a visit to the bond market but the market volatility cost the company, forcing it to pay the highest coupon for a dollar bond in the region so far this year.

    • 09 Feb 2018
  • Fantasia secures $300m as refi pressure builds

    Fantasia Holdings Group Co managed to take advantage of a stock market rebound that proved to be short-lived on Thursday, raising $300m from a 364-day trade. The company has around $1.6bn of onshore and offshore bonds maturing in the coming months, but managed to convince investors it has a plan to deal with this looming maturity risk.

    • 09 Feb 2018
  • HK watchdog clamps down on crypto exchanges, ICOs

    Hong Kong’s markets regulator has sounded off another warning on cryptocurrencies, taking action against a number of exchanges and issuers of initial coin offerings (ICOs).

    • 09 Feb 2018
  • Canara Bank adds Rp10bn to fundraising goal

    Indian state-owned Canara Bank is looking to raise up to Rp45bn in fresh capital. It increased the target by Rp10bn this week and plans to use methods including a qualified institutional placement and rights issue.

    • 09 Feb 2018
  • Aekyung Industry readies W232bn flotation

    South Korean firm Aekyung Industry Co is preparing to launch an IPO that could be up to W231.9bn ($213.3m), according to filing with the Korean market regulator on Thursday.

    • 09 Feb 2018
  • Credit Suisse equity-linked head rejoins Morgan Stanley

    Eva Zhong, who ran Credit Suisse’s equity-linked business in Asia, is rejoining Morgan Stanley to take up a senior equity capital markets role, sources close to the move said.

    • 09 Feb 2018
  • RMB round-up: PBoC to reform bond markets, FX reserves up for twelfth straight month, Cambodia considers RMB for China trade

    The People’s Bank of China eyes bond market reforms, China’s FX reserves stand at $3.16tr after another month of growth, and Cambodia moves closer to replacing the dollar with the renminbi for trades with China.

    • 09 Feb 2018
  • Mezz gains popularity amid rising valuations

    Leverage finance bankers are bracing themselves for a rise in mezzanine financing in Asia, buoyed by talk that part of the HK$32bn loan to back a record-breaking Hong Kong property deal will be financed with junior debt.

    • 08 Feb 2018
  • GLP ‘surprised’ market with BRI Panda pricing

    GLP has raised Rmb1.2bn ($191m) from a nine year Panda bond on the Shenzhen Stock Exchange. The size of the Belt and Road branded deal was expanded, surprising some in the market.

    • 08 Feb 2018
  • Fujian, Shangrao LGFVs snap up combined $500m

    Local government financing vehicles (LGFVs) from Fujian and Jiangxi braved the offshore debt market this week, after share prices across Asia and the US recovered from a bout of volatility. The two companies raised $500m between them.

    • 08 Feb 2018
  • Daegu Bank finds fortune favours the bold

    South Korea’s Daegu Bank pulled off a bold $300m bond on Wednesday, choosing to price a deal with a generous new issue premium rather than delay the sale any further.

    • 08 Feb 2018
  • Aster DM prepares float, ICICI Sec listing approved

    Aster DM Healthcare is finally set to launch its Rp9.8bn ($152.7m) IPO, having once again scaled back the deal size and changed the syndicate.

    • 08 Feb 2018
  • Vincom employees net $198m from block sale

    A group of employees from Vincom Retail have raised Dong 4.51tr ($197.5m) after they sold a block of the company’s shares, upsizing the offer on the back of strong institutional demand.

    • 08 Feb 2018
  • Agile spin-off pockets $524m from Hong Kong listing

    A-Living Services raised HK$4.1bn ($524.4m) from its IPO this week. It priced the deal below the midpoint of guidance, but it was well-received across all tranches.

    • 08 Feb 2018
  • Electronics manufacturer IMI sets price for Ps5bn rights

    Philippines-based Integrated Micro-Electronics (IMI) is planning to tap its shareholders for Ps5bn ($97.3m) of fresh capital. The company has priced its rights issue at an attractive discount to win them over.

    • 08 Feb 2018
  • HKEX locks-in index options after-hours trading

    Hong Kong Exchanges and Clearing (HKEX) has committed to allowing trading of popular equity index options in its after-hours trading session, after similar futures contracts enjoyed success in a lengthier session.

    • 07 Feb 2018
  • Sunshine breaks through clouds to close $165m tap

    Sunshine 100 China Holdings became the first Asian issuer to turn to the international bond market this week, tapping a three non-call two year bond as other issuers shied away from the market following a global collapse in stock prices.

    • 07 Feb 2018
  • ICICI Securities wins approval for Rp30bn IPO

    India’s capital markets regulator has given ICICI Securities the greenlight to hold an IPO, which is expected to raise at least Rp30bn ($467m).

    • 07 Feb 2018
  • China Taiping picks one for HK$500m club

    State-owned insurer China Taiping Insurance Holdings is raising a HK$500m loan from the offshore market, according to sources.

    • 07 Feb 2018
  • Three brave Asian bonds as sentiment shifts

    Three Asian debt issuers launched dollar bonds on Wednesday, taking advantage of a respite from the market turmoil that all but shut the debt market earlier this week.

    • 07 Feb 2018
  • JinkoSolar launches $100 ADS fundraising

    JinkoSolar Holding Co set out plans to raise $100m on Wednesday, after opening the order book for a follow-on offering of American Depository Shares alongside a private placement of the shares, according to a deal term sheet.

    • 07 Feb 2018
  • Updated: CMP sells Belt and Road Panda in Shenzhen

    China Merchants Port Holdings sealed its first Panda deal on the Shenzhen Stock Exchange on Monday, raising Rmb500m ($79.5m) from a three year bond. The red chip issuer will take the proceeds offshore to finance its Belt and Road Initiative-linked purchase of the Hambantota port in Sri Lanka.

    • 07 Feb 2018
  • Panda bonds aren’t fit for purpose. Time to cut the red tape.

    Panda bond issuance has so far been dominated by overseas-incorporated Chinese names. That bolsters volumes, but it does little to help the market fulfil its role of boosting RMB internationalisation. Policymakers have the chance to fix it — but only if they are bold enough to let markets play a bigger role.

    • 07 Feb 2018
  • Vincom employees net $198m from block sale

    A group of Vincom Retail employees sold a block of the company’s shares on Monday, raising D4.51tr ($198.1m) after they bumped up the size of the offer, according to a source close to the deal.

    • 06 Feb 2018
  • HDFC eyes Masala bond as pipeline swells

    Housing Development Finance Corp (HDFC) is among a swathe of Indian issuers preparing to sell offshore rupee bonds in the coming months, a funding official said.

    • 06 Feb 2018
  • Light Year, Pacific Millennium plan HK listings

    Mainland firms Light Year Holdings and Pacific Millennium Packaging Group are seeking approval to float in Hong Kong. They both filed draft IPO prospectuses with the city’s bourse on Monday.

    • 06 Feb 2018
  • Asian bonds on hold after equity market carnage

    Asian bond issuance has ground to a halt this week, with new deals put on hold and bankers urging caution amid volatility across the equity and bond markets.

    • 06 Feb 2018
  • IOB sends out feelers to banks for $156m QIP

    Indian Overseas Bank, a state-owned lender, plans to hire three firms to help it raise Rp10bn ($156m) from a qualified institutional placement, according to a request for proposals.

    • 06 Feb 2018
  • Updated: Sino-Ocean lines up second Panda in two weeks

    As China's domestic bond market continues to suffer from a deleveraging campaign, Sino-Ocean Property Holdings is again turning to the Panda market for funding – less than two weeks after it last tapped the asset class.

    • 06 Feb 2018
  • Ascendas India block comes up against global stock rout

    The mayhem reverberating through global equity markets pushed shares of Ascendas India Trust down to a new 52-week low, after the firm raised S$100m ($76m) from an overnight placement.

    • 06 Feb 2018
  • Del Monte eyes $324m from Philippines spin-off

    Food and beverage company Del Monte Pacific is looking to spin off and list its Philippine subsidiary through a secondary share offering. The company wants to raise as much as Ps16.7bn ($324.1m), according to a filing on Tuesday.

    • 06 Feb 2018
  • Singapore, Malaysia join hands for stock trading link

    Singapore and Malaysia's market watchdogs are setting up an equity trading link between their bourses. They are planning to go live by the end of the year.

    • 06 Feb 2018
  • The price is (not always) right

    In the latest Clawback, columnist Philippe Espinasse takes a closer look at two new IPO guidance letters released by the Hong Kong bourse.

    • 05 Feb 2018
  • Agile spin-off bags $524m from Hong Kong flotation

    A-Living Services has priced its Hong Kong IPO below the midpoint of guidance. The company raised HK$4.1bn ($524.2m) after the deal was well-received across all tranches.

    • 05 Feb 2018
  • Drug manufacturer AGP guns for $25m Pakistan IPO

    Pakistan-based pharmaceutical company AGP is set to launch bookbuilding for a Prp2.8bn ($25.2m) offer-for-sale on the country’s stock exchange this week, according to a statement by financial services company JS Global Capital.

    • 05 Feb 2018
  • Aster DM Healthcare rejigs IPO size, syndicate yet again

    Aster DM Healthcare is set to launch its Rp9.8bn ($152.7m) IPO in India next week, after only its latest attempt to scale back the deal size and change the syndicate group.

    • 05 Feb 2018
  • Not just property: China dollar bond pipeline building steadily

    Chinese companies in sectors from construction to technology are preparing to tap the dollar bond market. Despite rates continuing to push higher, particularly in the long-end of US Treasuries, more and more debut issuers are eyeing deals.

    • 05 Feb 2018
  • Cogo seals $595m rights, Ganfeng Lithium seeks nod for HK IPO

    China Overseas Grand Oceans Group (Cogo) has raised HK$4.7bn ($595.2m) from a rights issue of over a billion new shares, despite the deal being undersubscribed by shareholders.

    • 05 Feb 2018
  • Terms emerge for Indorent’s $100m syndicated loan

    Pricing details are out for a $100m facility for car rental service provider CSM Corporatama, better known as Indorent.

    • 05 Feb 2018
  • Greenland pushes out maturities with $700m bond

    Chinese property company Greenland Holding Group raised $700m last week, returning to the bond market to refinance a pair of short-dated deals it sold in the first half of 2017.

    • 05 Feb 2018
  • HKEX gives IPO issuers more flexibility on price range

    The Hong Kong Stock Exchange is giving IPO hopefuls more flexibility to price outside of indicative price ranges set during marketing, bringing its listing rules more in line with the US.

    • 05 Feb 2018
  • The week in renminbi: CFETS kicks off Thai baht trading, top Chinese official assures Hong Kong of its RMBi role, CCB opens New Zealand branch

    China launches onshore trading for Thai baht, NPC chairman says Hong Kong remains important to China’s effort to promote the renminbi, and China Construction Bank opens a new branch in Auckland.

    • 05 Feb 2018
  • RMB round-up: China signs $12.8bn deals with UK, RMB up one in payments, Aberdeen adds Rmb5.3b RQFII quotas

    China agreed to $12.8bn of deals with the UK during the British prime minister’s state visit, RMB returns as the fifth most used global payments currency, and Aberdeen Asset Management grabs Rmb5.3bn ($842.8m) new renminbi qualified foreign institutional investor (RQFII) quotas.

    • 02 Feb 2018
  • Cinda AMC goes conservative on size

    China Cinda Asset Management Co raised a smaller than anticipated $2.5bn from a four-tranche deal on Thursday, despite having an order book that was about 6.6 times covered at its peak.

    • 02 Feb 2018
  • Indorent revs up $100m syndicated loan

    Car rental service provider CSM Corporatama, better known as Indorent, has reached out to lenders for a $100m syndicated loan, said bankers who received a preliminary email asking them to attend a roadshow.

    • 02 Feb 2018
  • Chinese issuers delve into short-dated bonds

    China Logistics Property Holdings Co (CNLP) and Future Land Holdings Co both sold bonds with less than one year tenors on Thursday, sidestepping the Chinese regulator’s tight handle on offshore fundraising.

    • 02 Feb 2018
  • Times Property Holdings block goes for HK$834m

    Schiavona International Holdings has raised HK$833.5m ($106.6m) after offloading a block of shares in real estate developer Times Property Holdings, according to a source close to the deal.

    • 02 Feb 2018
  • Nazara Tech seeks green light for Indian IPO

    Mobile gaming company Nazara Technologies is planning to float on India’s stock exchanges through an offer-for-sale (OFS) of secondary equity, and has filed a draft prospectus with the market regulator.

    • 02 Feb 2018
  • GLP goes long with Belt and Road Panda

    Singapore's GLP will approach Chinese investors on Monday with a nine year Panda bond, one of the longest-dated deals ever to feature in the asset class.

    • 02 Feb 2018
  • India seeks InvIT boost as NHAI picked for share sale

    India plans to monetise its highway assets by packaging them into infrastructure investment trusts (InvITs) for IPOs, the government said during its annual budget presentation.

    • 02 Feb 2018
  • CMP gets official approval to market Belt and Road Panda

    It has now become common for bond issuers to stress their 'Belt and Road' credentials. But China Merchants Port has become one of the first issuers to get the official blessing to use the term.

    • 02 Feb 2018
  • QNB sells $1bn PP as Gulf banks continue innovative funding run

    Qatar National Bank has added to a busy run of funding with a $1bn two year private placement that it sold to a single investor, according to sources. The region's banks have tapped the Islamic and Taiwanese markets and issued in Aussie dollars.

    • 01 Feb 2018
  • SPD Bank to fire up London ops next week

    Shanghai Pudong Development Bank is set to open its newly authorised UK branch for business next week, with initial plans for wholesale banking and vanilla securities trading.

    • 01 Feb 2018
  • Galaxy Surfactants goes for the top with India IPO

    Indian specialist chemical producer Galaxy Surfactants closed books for its IPO on Wednesday and is set to raise Rp9.4bn ($146.9m) after the deal was multiple times covered by institutional investors.

    • 01 Feb 2018
  • Yango falls victim to yield spike, high leverage

    Chinese property developer Yango Group Co was forced to call off a $250m bond this week, amid heavy Asian dollar bond supply and a spike in US Treasury yields. But while market conditions played their part in the underwhelming demand for the deal, the issuer’s credentials were also called into question. Addison Gong reports.

    • 01 Feb 2018
  • Huami, Ping An Good Doctor lead China tech IPO march

    The first of China’s much-anticipated pipeline of technology-centric IPOs this year is starting to materialise.

    • 01 Feb 2018
  • Sub-one year bonds spill over into Asia equity-linked market

    Asia’s equity-linked market joined in the sub-one year bond party this week, as issuers and investors both found something to like in the structure. Two Chinese property developers successfully priced nearly identical 363-day deals, though they had slightly different results in the aftermarket. John Loh reports.

    • 01 Feb 2018
  • Yunnan Energy fires up $200m three year bullet

    Yunnan Provincial Energy Investment Group is out with its first borrowing in the international loan market.

    • 01 Feb 2018
  • People news in brief: February 1, 2018

    Credit Suisse’s Naqvi to step down – Nomura creates China IB role

    • 01 Feb 2018
  • India plans to merge and list public insurance trio

    The Indian government plans to merge three public sector general insurance companies into a single entity and float it on the stock exchange, finance minister Arun Jaitley said during the annual Union Budget on Thursday.

    • 01 Feb 2018
  • Evergrande tears up old plan, rings changes for mammoth CB

    China Evergrande Group attempted the largest Asian convertible bond in nearly two decades this week. But after investors baulked, the company pulled off one of the starkest changes of direction to a live deal GlobalCapital Asia has ever seen, relaunching with a new structure, a smaller deal size and a bigger bookrunning group, writes Jonathan Breen.

    • 01 Feb 2018
  • JM Financial pockets $102m in QIP with zero discount

    Indian brokerage JM Financial is set to bag Rp6.5bn ($101.8m) from a qualified institutional placement with no discount to its market price, as investors jostled for the shares.

    • 01 Feb 2018
  • Sharjah makes its name with Panda debut

    Chinese investors welcomed the first Panda bond issuer from the Middle East with caution this week. The government of the Emirate of Sharjah sold a Rmb2bn ($317.2m) three year bond in the upper half of the coupon range.

    • 01 Feb 2018
  • Can M Grass overcome its local government cooking the books?

    A green construction company in the Chinese region of Inner Mongolia has expressed interest in selling a dollar green bond. But the deal will have to overcome damning revelations that the local government released false economic data.

    • 01 Feb 2018
  • Zhongtai pushes out short term dollar bond

    Chinese issuers are continuing to circumvent regulatory approval for offshore fundraising by going down the short-term note issuance route, with Zhongtai Securities becoming the latest name to hit the market.

    • 01 Feb 2018
  • Voila! France eyes debut Panda bond

    France is hoping to add its name to a growing list of sovereigns in China’s Panda bond market, having discussed the possibility with at least two of the country’s biggest state-owned banks.

    • 01 Feb 2018
  • StanChart scoops new Panda licence

    Chinese regulators have given Standard Chartered the nod to become a joint lead underwriter on corporate Panda bonds, allowing it to take a senior position on deals that it was previously forced to play a junior role on. StanChart is only the second foreign bank to win the approval.

    • 01 Feb 2018

Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 17,767.41 52 13.75%
2 HSBC 12,609.22 58 9.76%
3 JPMorgan 9,925.38 40 7.68%
4 Standard Chartered Bank 8,217.29 45 6.36%
5 Deutsche Bank 7,715.91 23 5.97%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 6,966.21 15 18.50%
2 HSBC 4,464.24 7 11.86%
3 Deutsche Bank 4,144.09 3 11.01%
4 JPMorgan 3,634.02 11 9.65%
5 Bank of America Merrill Lynch 3,462.62 12 9.20%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 7,216.33 17 17.39%
2 Standard Chartered Bank 4,724.26 13 11.38%
3 JPMorgan 3,911.33 13 9.43%
4 HSBC 3,876.07 12 9.34%
5 Bank of America Merrill Lynch 2,765.80 5 6.67%

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 9.01%
2 UniCredit 3,440.98 25 8.45%
3 Sumitomo Mitsui Financial Group 3,156.55 13 7.75%
4 Credit Suisse 2,801.35 8 6.88%
5 SG Corporate & Investment Banking 2,478.18 21 6.09%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 AXIS Bank 761.34 18 14.55%
2 Standard Chartered Bank 435.32 5 8.32%
3 Trust Investment Advisors 415.64 12 7.94%
4 JPMorgan 366.31 3 7.00%
5 Citi 280.89 2 5.37%