Northeast Asia

Singapore Telecommunications is working with DBS, Morgan Stanley and UBS to lead the $2bn IPO of its broadband unit NetLink Trust.

China Grand Automotive is in the market for a $591m equivalent dual currency syndicated loan. The deal comes less than two months after it raised funds from a bond issue.

Ashurst has appointed Pui Hong Chik as a partner in its corporate practice in Hong Kong to bolster its Greater China business, the law firm said on Thursday.

China Singyes Solar Technologies Holdings sealed its debut dollar bond on Wednesday after pricing was tightened by an impressive 55bp. Strong market conditions, a familiar name and the deal’s structure played well together for the unrated trade, reckon market participants.

An old chum of mine decided to host a round of poker for his banker colleagues in his apartment last week, deciding to ring in the New Year with a spot of gambling.

Cornerstone investors taking up huge chunks of Hong Kong IPOs have caused much controversy in recent years, but that looks set to change. China’s foreign exchange regulator has provided a new route for investing in the city’s listings, which is expected to diversify the pool of potential cornerstones beyond the typical state-owned enterprises, and friends and family investors. Jonathan Breen reports.

Wells Fargo has named a new regional president for Asia Pacific, promoting Jafar Amin.

China Construction Bank sealed a €500m deal through its European arm on Wednesday, securing ample investor interest from both Asia and Europe to price with negligible new issue concession.

Future Land Development Holdings is hunting for $350m from a new three year note launched on Thursday morning, with pricing tightened aggressively at the end of the day.

Russian aluminium producer Rusal has registered a prospectus on the Shanghai Stock Exchange for a Rmb10bn ($1.5bn) seven year Panda bond programme, the company said on Wednesday.

Renminbi internationalisation could soon be renamed renminbi digitalisation as the People’s Bank of China continues to make inroads to becoming the first major central bank to issue its own digital currency, according to a report from King & Wood Mallesons (KWM).

The offshore renminbi market is set for another year of pain with new issuance predicted to fall by as much as 30% in 2017, according to HSBC’s February dim sum tracker report.