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Saturday, 20 September 2014

Top Stories from this week's IFR Asia magazine

Released online
Saturday 23:00 Hong Kong / Friday 16:00 London


UK readies first Dim Sum issue

UK readies first Dim Sum issue

IFR Asia 862 - September 20, 2014

The United Kingdom is to become the first foreign country to issue an offshore renminbi bond in a symbolic move that points to the currency’s growing global appeal.

An employee walks past a logo of Alibaba (China) Technology Co. Ltd during a media tour organized by government officials at its headquarters on the outskirts of Hangzhou, Zhejiang province.

Alibaba’s IPO finally delivers

IFR Asia 862 - September 20, 2014

A conservative valuation stance and a partly superstitious approach to pricing, even in the face of overwhelming demand, ensured the long-awaited US$21.8bn NYSE IPO of

New red flag for China lending

New red flag for China lending

IFR Asia 862 - September 20, 2014

Lenders spent nine months poring over the books, sizing up management and even checking out the factory floor at China’s Ultrasonic before deciding in August to give the Frankfurt-listed shoemaker an unsecured credit facility of US$60m.

Testing waters before AT1 rush

Testing waters before AT1 rush

IFR Asia 862 - September 20, 2014

Chong Hing Bank sold its first Basel III-compliant Additional Tier 1 bond last week, rekindling the debate about the role of loss-absorbing bonds in Asia ahead of a deluge of capital raisings from Chinese and Indian lenders.

Brochures for Glencore International's IPO are seen at a news conference in Hong Kong.

Glencore unearths Aussie risk appetite

IFR Asia 862 - September 20, 2014

Anglo-Swiss mining giant Glencore has given Australia’s underutilised corporate bond market a welcome shot in the arm with a popular A$500m (US$448.5m) five-year bond – the largest deal of its kind in 2014.

Jumbo Wanda IPO takes shape

Jumbo Wanda IPO takes shape

IFR Asia 862 - September 20, 2014

Billionaire Wang Jianlin’s Dalian Wanda Commercial Properties is raising funds in what will be Hong Kong’s biggest China-related property IPO.

Impact success builds Thai REIT appeal

Impact success builds Thai REIT appeal

IFR Asia 862 - September 20, 2014

The success of Impact Growth Real Estate Investment Trust’s Bt7.9bn (US$244m) IPO, Thailand’s first such listing, is encouraging other issuers to resume work on their floats.

An XA42 performs next to a Chinese national flag during the AOPA-China Fly.

China securitisation to add to record year

IFR Asia 862 - September 20, 2014

China’s nascent securitisation market is on track to exceed Rmb200bn (US$32.6bn) this year as regulators continue to promote asset-backed structures as alternatives to bank lending.

EOC extends Singapore bookbuild

EOC extends Singapore bookbuild

IFR Asia 862 - September 20, 2014

Another oil-and-gas company is finding a Singapore share sale tough going as local investors remain cautious on the sector.

PE investors seek Indian exits

PE investors seek Indian exits

IFR Asia 862 - September 20, 2014

The recent rally in Indian stocks has offered private-equity investors an opportunity to monetise their Indian holdings through initial public offerings.

A logo of the Societe Generale Private Banking firm is pictured at its Singapore premises.

Debt opens doors for SG in Asia

IFR Asia 862 - September 20, 2014

Societe Generale is looking add more debt capital markets bankers to boost its share of financing markets in China, India and South-East Asia and help connect Asian enterprises with capital and investments in Europe and Africa.

Honghua pulls off debut issue

Honghua pulls off debut issue

IFR Asia 862 - September 20, 2014

Honghua Group sold a debut US$200m five-year non-call three bond overnight at a tight pricing, despite a choppy market.

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IFR's daily digest of views & news for capital markets professionals

Keith Mullin 475px June 2014

Policy – or the art of standing still

Actions from policymakers are contradictory and self-defeating.

Timothy Sifert

Old China Hands need new tricks

PRC-focused investment bankers now need more than just high-level connections to get by.

Alibaba Group Holding Ltd founder Jack Ma

WRAPUP 7 – Alibaba jumps more than 40% in trading debut

(Reuters) - Alibaba Group Holding Ltd’s shares surged by more than 40% in their first day of trading on Friday as investors jumped in to buy what looks likely to be the largest IPO in history.

FSB

FSB tackles swaps data fragmentation

The Financial Stability Board today put forward proposals to build a central aggregator to combat data fragmentation in the US$710trn over-the-counter derivatives market in order to help global regulators identify build-ups of systemic risk.

Serbia's Parliament building in Belgrade

Serbia austerity paves way for potential bond sale

Serbia has taken another step towards its potential Eurobond issue after the government announced an austerity package.

Vol

The pound is back to trading on fundamentals

Divyang Shaw on the currency’s future after the referendum.

Peters 475px June 2014

On a United Kingdom, the pound and French ratings

Anthony Peters on the Scotland aftermath and a French downgrade.

Skylark

EQUITIES: Skylark cuts IPO size to US$734m, sets price range

Skylark, a restaurant operator controlled by Bain Capital, has cut the size of its IPO to ¥80.1bn (US$734m) after shareholders decided to decrease the amount of secondary shares in the offering. 

A sign outside the headquarters of JP Morgan Chase & Co in New York

Banks pounce on post-FOMC bid in US high-grade market

Banks and other financials raced into the US high-grade bond market on Thursday to take advantage of a jump in risk appetite after the FOMC meeting.

American Airlines airplane

American Airlines leads post-Fed US high-yield supply

A benchmark unsecured bond from American Airlines (AA) blazed the way in a US high-yield market that saw four drive-by deals Thursday as issuers seized upon a more positive tone to move forward with trades.

More from Capital City

IFR Asia Awards 2014

We are delighted to announce the IFR Asia Awards 2014. To help us in the selection process, we invite banks to submit brief written presentations with supporting data on or before October 13.

Please click here for a list of categories and more details about the awards process.

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Special report

A shaolin monk breaks an iron sheet with his head during a performance at a temple in Quanzhou, Fujian.

Renminbi Capital Markets: Showing new strength

IFR Asia - Renminbi Capital Markets 2014

A little volatility can be a good thing. 

Trophy financing

IFR Asia 862 - September 20, 2014

When the announcement comes from a top politician, plans for a bond issue become especially symbolic. News that the UK will be the first national government outside China to issue a renminbi bond shows just how badly governments around the world want to cater to the Chinese currency and its outsized potential. 

One more red flag

IFR Asia 862 - September 20, 2014

Lenders who do business in China are no stranger to risk warnings, but the latest scandal involving disappearing executives and millions of dollars is again raising red flags.

Comment and Opinion

Timothy Sifert

Old China Hands need new tricks

IFR Asia 862 - September 20, 2014

PRC-focused investment bankers now need more than just high-level connections to get by, says IFR Asia’s Timothy Sifert.

Jonathan Rogers

A prediction to end all predictions

IFR Asia 862 - September 20, 2014

The Scottish fiasco shows opinion polls and rating agencies are equally bad at predicting the future, says Jonathan Rogers. 

A logo of the Societe Generale Private Banking firm is pictured at its Singapore premises.

Debt opens doors for SG in Asia

IFR Asia 862 - September 20, 2014

Societe Generale is looking add more debt capital markets bankers to boost its share of financing markets in China, India and South-East Asia and help connect Asian enterprises with capital and investments in Europe and Africa.

Timothy Sifert

Old China Hands need new tricks

IFR Asia 862 - September 20, 2014

PRC-focused investment bankers now need more than just high-level connections to get by, says IFR Asia’s Timothy Sifert.

BofA Merrill: New HK banking chief arrives

IFR Asia 862 - September 20, 2014

Bank of America Merrill Lynch has hired Yuet Ming Chan as managing director, head of corporate banking for Hong Kong and Taiwan, effective September 18. She joins from Standard Chartered, where she was head of global corporates for Hong Kong. At BofA Merrill, she will report to Steven Victorin, head of Asia Pacific corporate banking.

861 Regs_01

Reg S: An Islamic pitch goes awry

IFR Asia 861 - September 13, 2014

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