News content
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January could see an explosion of holdco issuance as banks look to fill their Total Loss Absorbing Capacity (TLAC) buckets.
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Tata Motors has allocated its $600m dual-tranche refinancing among a group of 36 banks. The company split the amount evenly between a five year and a seven year despite the longer tenor seeing a higher volume of commitments.
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Alkem Laboratories has priced its Rp13.5bn ($202.1m) IPO at the top end of its range, following a burst of demand for the Indian healthcare sector in the past month.
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After a subdued year, Korean borrowers are gearing up for a busy 2016 buoyed by a credit rating boost from Standard & Poor’s, which made the country fully double A for the first time in its history. But will issuers be able to capture the lower yields they crave in the face of mounting global macro-economic pressures? Narae Kim finds out.
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A spate of aggressively structured acquisition loans arranged by Chinese banks, dubbed ‘Chinese TLB’ sent ripples through the syndicated loan market this year. Foreign banks, unable to match terms offered by their Chinese counterparts, are having to deal with shrinking opportunities to finance offshore Chinese M&A, writes Shruti Chaturvedi.
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The Asian high yield bond market did not had a vintage year in 2015 with a dramatic reduction in volumes thanks in no small part to troubles surrounding China. With no end in sight for the slowdown in the world’s second largest economy, bankers are predicting a switch in strategy to deal with the difficult year ahead. Rev Hui reports.
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China’s equity markets crashed spectacularly in the middle of the year after an impressive rally, before rebounding again in the last quarter. With the dust now settled, bankers reckon 2016 will be a bumpy but easier year to navigate. Rashmi Kumar reports.
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GCL-Poly Energy Holdings and GCL New Energy Holdings are looking to raise a combined HK6bn ($774m) in separate rights issues as they seek to aid each other’s expansion plans.
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Korea Western Power (Kowepo) is set to make a comeback to the dollar bond market as early as April next year, to raise funds for refinancing and new investment.
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Short-end CNY swaps have been bid on the weaker CNY trend and the 1s/5s curve slope is flatter. China has expanded its ties with UAE. South Korea issued the first Panda bond by a foreign sovereign, writes Deirdre Yeung of Total Derivatives.
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Invitations are out for a $200m-equivalent borrowing by Yue Xiu Enterprises (Holdings), a company owned by the Guangzhou government.
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With a self-imposed deadline looming for the formal launch of the Asean Economic Community (AEC), transaction bankers are still frustrated about the lack of progress on financial integration. But rather than wait for politicians to act, bankers and their clients are pushing ahead with developing cross-border solutions. Paolo Danese reports.