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Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
Private bonds are now being offered in the open market wider than where public deals trade
Even as USTs stay near 5%, supply expected to pick up
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Chinese authorities took over Baoshang Bank this week, the first time the state has taken control of a financial institution in two decades. Despite the central bank promising to guarantee most deposits held by Baoshang, yields on similarly rated banks’ outstanding short-term debt jumped as issuance volumes tumbled — leading the central bank to take the ‘unusual’ move of injecting liquidity into the market for three consecutive days. Rebecca Feng reports.
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South Korean oil refiner GS Caltex Corp raised $300m from a senior bond on Wednesday.
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The Hong Kong financial regulator has fined China Merchants Securities’ local arm for breaching its IPO code of conduct while working on the listing of China Metal Recycling.
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Hansoh Pharmaceutical Group kicked off the roadshow for its Hong Kong listing this week, with up to HK$7.9bn ($1bn) of proceeds in its sights. The deal got off to a strong start with the help of a cornerstone group that included Singapore’s sovereign wealth fund, as well as an early turnout from international institutions. Jonathan Breen reports.
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Bigger is not always better. Just ask Huarong Asset Management, which appointed 30 banks to manage a deal that caused headaches for bankers and investors alike.
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Credit Suisse Group made its debut in the Singapore dollar market on Wednesday, finding a significant price advantage for its perpetual tier one bond in the new currency.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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European Investment Bank: Supporting sustainable development in North Africa