Hong Kong SAR

Zhejiang Expressway Co is looking to sell equity-linked debt worth up to $400m, testing the market’s appetite for scarce H-share convertible paper as Asian primary issuance remains muted.

Thailand-based Kasikornbank’s Hong Kong branch and Malaysia’s RHB Bank navigated a crowded Asia bond market to bag a combined $900m.

DBS Asia Capital has named Anuruk Karoonyavanich as its new CEO, with the appointment effective from October 1.

Investors welcomed the inaugural appearance from Hong Kong’s Television Broadcasts (TVB) in the dollar bond market. Hong Kong credits remain a rarity in G3 and the deal provided some nice diversity from a well-known brand.

Bank of America Merrill Lynch and Goldman Sachs are taking a knife to their Asian investment banking operations amid slower capital markets activity and as competition from Chinese lenders intensifies. This is just the latest in a series of culls in Asia as global banks struggle to find a suitable model. Shruti Chaturvedi reports.

Five banks have clubbed together to supply a $300m three year term loan to Hong Kong-listed company Sino Biopharmaceutical.

Honma Golf priced its Hong Kong IPO near the top of expectations on Thursday, raising HK$1.34bn ($172.7m) for the Japanese maker of premium golf clubs as long-only funds climbed onboard.

Siong Ooi, who until recently was head of the Asia Pacific syndicated and leveraged finance unit at Bank of America Merrill Lynch (BAML), is understood to be heading to Bank of Tokyo-Mitsubishi UFJ (BTMU) in December, according to multiple sources.

Hong Kong conglomerate New World Development benefited from a market pick-up on Wednesday, with its strong household name helping it raise $1.2bn from a perpetual non-call five bond.

CK Hutchison raised $1.25bn and another €1bn ($1.12bn) on Wednesday, whetting investors’ appetite with a good marketing strategy and wise timing, according to bankers.

A range of credits from India, Malaysia and Greater China stormed the Asian debt market on Thursday, vying for investor attention.

A loans distribution banker has joined the syndicated finance team of DBS in Hong Kong.