News content
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Bank of Qingdao Co, a Chinese city commercial lender, is considering a Hong Kong listing this year. Citic CLSA Securities and Goldman Sachs are joint sponsors, with Rothschild acting as financial adviser.
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A large financing for the acquisition of Tesco’s South Korean asset, Homeplus, has created a stir in the market, coming amid a dearth of private equity-backed leveraged deals in Asia. But the role of foreign banks may be limited by abundant onshore liquidity and the presence of domestic funds, which are keen to take on junior debt, writes Shruti Chaturvedi.
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Infrastructure investment trusts (InvITs) have failed to gain any sort of traction in India since the asset class was introduced last year to reduce the funding pressure on infrastructure projects. In response, the country launched a new consultation on August 20 in a bid to improve the framework but unless several tax and structural issues are fixed, interest in the asset class is unlikely to pick up.
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There was a tense finish to the Indian government’s Rp93.96bn ($1.42bn) divestment of its stake in Indian Oil Corp (IOC), with books only covered just before the transaction was due to close thanks to late bids from state-owned insurers.
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Defaults in Latin America’s corporate sector are at levels not seen for 10 years, said Fitch this week as credit analysts say more pain is on the way for the region’s companies as years of record levels of issuance catch up with the region.
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Indian conglomerate Reliance Industries is understood to be close to choosing the mandated lead arranger and bookrunner group for a loan that will refinance a $1.5bn facility it raised three years ago.
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Rate cuts delivered by the PBoC this week have calmed global equity markets somewhat. In China's rates market a short-end led rally steepened the curve as an initial reaction. Looking forward though, currency market perceptions will be key. Deutsche Bank is amongst those expecting China to take a more sensitive approach with the yuan, writes Maia Ririnui of Total Derivatives.
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The recent high volatility across equity markets has opened up opportunities for traders to deploy strategies that were unprofitable during long periods during the post-global financial crisis era.
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Reesink, the Dutch equipment distributor, intends to float in Amsterdam in early 2016, the company said in its half-year report.
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NL Financial Investments, the organisation that handles the Dutch state’s shareholdings, has selected eight investment banks as bookrunners and co-lead managers for ABN Amro’s highly anticipated flotation.
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As the dust settles on a few days of equity insanity, it’s worth recognising that what happens in the Chinese stock market needn't mean much for other emerging markets.
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China’s slowdown and rising market volatility may still drive a wave of risk aversion, but analysts and bankers say the European high yield market may not buckle under the pressure.