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Sadbhav Infrastructure Project is poised to close its Rp4.9bn ($74m) IPO on September 2, safe in the knowledge that more than 40% of the deal has been taken up by anchor investors.

After “particularly ugly” second quarter results, according to one bank’s credit analyst, Moody’s confirmed on Monday that Mexican construction group Empresas ICA’s turnaround was short-lived by placing its B2 rating on negative outlook.

The vast majority of payments from South Korea to China and Hong Kong are now processed in RMB, Swift said in its latest RMB Tracker report issued on September 1. A day earlier, the State Administration of Foreign Exchange (Safe) said it had added three new Seoul-based institutional investors to the RMB qualified foreign institutional investor (RQFII) programme in August, with 60% of the Rmb80bn ($12.4bn) country quota now distributed.

Credit Suisse has named Jorge Eduardo Díaz Barros as Chilean country head after hiring the banker from JP Morgan.

Recent moves by China to shore up risk sentiment include allowing state pension funds to buy equities, injecting liquidity and directing banks to buy CNY. A swap market source suggests that equities are due for a significant rebound in the near-term and that the swap curve will steepen, writes Deirdre Yeung of Total Derivatives.

A $240m dividend recapitalisation loan for Asia Satellite Telecommunications' (AsiaSat) sponsor Carlyle has seen seven banks commit so far, with one more lender awaited.

Onshore Chinese corporates are generally bearish on the short-term outlook for the economy as sentiment remains fragile, according to a new report from Standard Chartered. Companies are also predicting the renminbi will weaken by year end with the increased volatility increasing their interest in managing FX risk.

Property developer HKR International has increased the size of its borrowing to HK$8bn ($1.032bn) to accommodate the 14 lenders that have formed the syndicate group.

China Reinsurance Corp (Chine Re) has kicked off a soft pre-marketing for its $2bn IPO on the Hong Kong Stock Exchange, as investors remain in a risk-off mood amid global volatility.

Hong Kong-listed HNA International Investment Holdings has announced plans for a HK$2.97bn ($383m) rights issue that will hit the market in October.

Although Chinese equities are selling-off again today short-end CNY swaps have been better bid on underlying concerns about a gradual yuan depreciation trend. Elsewhere traders expect to see the curve steepen as corrective strength in equities supports paying in mid-sector swaps, writes Deirdre Yeung of Total Derivatives.

In the wake of a selloff despite People’s Bank of China easing, the China Financial Futures Exchange implemented a series of new rules designed to stop the pain.