HSBC
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The UK’s shock decision to leave the European Union has left most of Asia reeling with the region’s major currencies and stock indices all coming under severe pressure. But if there is one country that can handle the negativity better than the others, it will be China.
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Despite the carnage in UK and European bank shares, the bosses of major investment banks have reassured staff that immediate changes won’t follow. But recruitment industry sources predict the opposite, with one headhunter citing client plans to move 37,000 jobs to countries that plan to stay in the European Union.
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Hengdeli Holdings and eSun Holdings have announced the results of their respective tender offers for international bonds.
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Pacific Basin Shipping has closed its HK$1.2bn ($150.6m) rights issue with a hefty 10x oversubscription, the company said in a filing with the Hong Kong exchange.
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Indonesian motorcycle credit company Federal International Finance (FIF) has roped in nine lenders to supply a $200m three year loan on a club basis.
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Leveraged loan investors this week showed healthy appetite for core European deals as French data processor Tessi and German jewellery maker Amor began marketing their acquisition loans.
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CP Pokphand, part of Thai firm Charoen Pokphand Group, has raised a $600m loan to repay outstanding debt.
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Cemex Holdings Philippines, an affiliate of Mexican cement giant Cemex, has kicked off bookbuilding for its Ps24.4bn ($526.3m) listing, with the offering generously covered, according to a source with knowledge of the situation.
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China Development Bank Financial Leasing Co has launched its Hong Kong IPO, covering the HK$7.6bn ($980m) float at the low end of guidance. But it has only managed to do so with mainland cornerstone investors propping up nearly 80% of the deal.
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China's GF Securities, which made its debut in the offshore syndicated loan market in 2014, is in talks with seven lenders for a fresh borrowing.
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Yoigo, a Spanish mobile phone company with a 7% market share and 3.3m subscribers, long the subject of takeover speculation, will be bought by Másmóvil Ibercom, a smaller player that is also an internet service provider.
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Dentressangle Initiatives is seeking €276m of loans to fund its acquisition of Tessi, the French provider of data processing services, which it also plans to delist.