News content
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A well known public sector DCM banker is to add another string to his bow, taking on capital financing responsibilities in France, GlobalCapital understands.
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Another batch of offshore institutions was this week approved to invest in China’s interbank bond market (CIBM), in what authorities will hope will be seen as further proof of their determination to open up the country's capital market. But to become truly diversified, the CIBM needs a lot more than mere licences.
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International syndicated lending to Russia this year is running at its lowest volume since 2001, and less than a third of the total lent by this point last year, according to Dealogic.
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Outflows from emerging market portfolios since the August unrest are edging ever closer to the volumes seem during the Taper Tantrum of 2013.
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South Korea's Hotel Lotte has appointed one domestic and two global banks to manage its 2016 IPO.
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VietinBank, one of the four largest state-owned commercial lenders in Vietnam, has seen commitments come in during general syndication for a $100m three year facility.
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China Securities (International) Finance Holding Company sold its inaugural offshore bond on September 10. Although markets were jittery, the debutant took comfort in the fact that books were already covered by the banks working on the deal.
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Formosa Plastics Group is holding talks with 10 to 15 lenders for a dual tranche fundraising of $2.5bn, with banks asked to submit their pricing thoughts for the loan.
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Citi has kept the red hot Australian RMBS market going with a A$1.2bn ($860m) transaction that priced on September 11. And similar to Commonwealth Bank of Australia’s (CBA) deal this month, Citi too was able to print a much bigger deal than initially planned.
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Chinese company Minsheng Financial Leasing’s offshore fundraising, which was launched at $200m, has received commitments from more than 10 banks during general syndication. But the final size of the loan is yet to be determined.
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One of China’s largest private conglomerates, Fosun International, is continuing its reliance on equity capital markets to help fund the expansion of its insurance business. The company has announced a HK$11.7bn ($1.5bn) rights issue, which is poised to hit the market next month.
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In this round-up, Chinese premier Li Keqiang said RMB internationalisation to continue, South Korea's RMB deposits halving in a few months, HKMA revamps its RMB liquidity facility, Singapore Exchange and Moscow Exchange see surging RMB trade volumes, Shanghai Gold Exchange expands its list of assets that can be used as collateral for trading to A-shares and foreign currencies, and Deutsche Bank joins OTC Clear as a clearing member.