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As war drags on, banks are boosting hoards of cash after deposit outflows
Just getting a deal done should be considered a success
Deals in the past fortnight have been solid but US Treasury yields are volatile and rising
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Thailand’s largest block trade in six years has seen Singaporean state-owned investment fund Temasek Holdings bagging more than $500m from a sale of Intouch Holdings stock. The vendor took advantage of a surge in the Intouch’s stock price and plans to return and clean up its remaining stake. Jonathan Breen reports.
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Spanish impact fund Magallanes Impacto and India’s Northern Arc Capital’s joint investment in a Rp1.06bn ($15m) ‘pooled bond’ transaction highlighted foreign investors’ interests in India’s non-banking financial companies (NBFCs), as cash-strapped lenders look for alternative sources of funding. Addison Gong reports.
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Macau casino operator MGM China has raised its first unsecured borrowing, joining a handful of companies raising straight loans to replace outstanding secured facilities. Bankers think that plenty more casinos will take a punt on the format. Pan Yue reports.
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Greenko Energy Holdings skirted market volatility on Wednesday, seizing a rare opportunity to close a dollar deal.
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Chinese lending to and investment in central and eastern Europe is on the up. China has extended its reach to rival the influence of its western counterparts with its best weapon: money. But many bankers speaking to GlobalCapital this week think the trend is problematic.
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China’s securities firms are about to be subject to an alarming rule that will limit their capacity to provide independent research. The decision to grade firms on their ability to manage the reputation of China and guide public opinion is a big step back for the country’s financial system.
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