Coway Holdings has launched a W322bn (US$286m) block in Korean water purifier maker Coway, according to a term sheet.
Hong Kong-listed property developer Beijing Capital Land has dropped a planned Shanghai IPO to raise about Rmb3.8bn (US$551m).
Thai energy drinks manufacturer Osotspa has set a price range of Bt22–Bt25 per share for its planned IPO, for a total deal size of Bt13bn–Bt15bn (US$396m–$488m).
Japanese apparel maker World Co has priced its ¥48.4bn (US$432m) IPO at the bottom of the indicative range in a relisting on the Tokyo Stock Exchange.
Standard Chartered’s China transaction banking head Sam Xu has left to join BNY Mellon as country executive for China.
Edelweiss, IDBI Capital and IDFC Bank have been selected to manage the sale of a 5% stake held by the Indian government in Bharat Electronics, a person with knowledge of the transaction said.
Tata Steel is in discussions with banks for a long-term loan of up to Rs210bn (US$2.89bn) to take out a bridge loan it raised earlier in the year to acquire a controlling stake in another steelmaker.
HSBC Holdings, rated A2/A/AA–, yesterday sold S$750m (US$546.4m) of perpetual non-call five Additional Tier 1 notes at 5%, marginally tighter than initial guidance of 5.125% area.
Goldman Sachs is relocating Craig Murray to Hong Kong to become head of its financial institutions group for Asia Pacific ex-Japan.
(Reuters) India plans to merge state-run Bank of Baroda, Dena Bank and Vijaya Bank, Financial Services Secretary Rajeev Kumar said on Monday, as part of efforts to tackle bad loans plaguing the banking sector and revive credit growth.
Top Stories from this week's IFR Asia magazine
Friday 1600 Hong Kong / Friday 0900 London
Just a few years ago, the idea of a US$4.3bn overnight equity offering would have been unthinkable in Japan’s capital markets. Last week’s mega block trade in Yahoo Japan is a big step forward.
If bonds and loans can be considered Green, surely the same should apply to a convertible bond. Getting issuers and investors to buy into that concept, however, will not be easy.
A record US$4.3bn block trade in Yahoo Japan has put overnight bookbuilds on the radar for potential vendors looking to dispose of sizable stakes in Japanese companies.
Analysts and investors are playing down fears for the health of the Australian banking sector despite mounting pressure from falling house prices and damning financial scandals.
Japanese timber company Sumitomo Forestry introduced the green concept to the convertible bond market by sealing the world’s first Green CB last week, raising ¥10bn (US$90m) to refinance a New Zealand project.
CLSA, the offshore arm of China’s Citic Securities, is looking to open more offices in major outposts along the Belt and Road, its chief executive Jonathan Slone said last week.
DMG Entertainment and Media, the Chinese company that co-produced Iron Man 3, has defaulted on its onshore bonds after a series of dramatic events that strained its finances.
Thailand may be one of the best performers in the summer’s emerging markets sell-off, but the country’s two biggest listings of the year show no signs of banking on overseas support.
Global investors flocked to the Republic of Korea’s US$1bn dual-tranche bond deal last Thursday in a sign that asset managers are stocking up on high-quality credits to ride out the emerging-market turmoil.
US logistics real estate company Prologis highlighted the growing appeal of Global yen debt last week with a long-term fundraising of ¥55.1bn (US$494m) to hedge currency risk for its Japanese assets.
Singaporean developer Oxley Holdings is raising S$317m (US$230m) in its fourth loan market outing this year, at a time when measures aimed at curbing skyrocketing property prices in the Lion City are expected to result in fewer real estate financings.
AT&T (Baa2/BBB/A–) reopened the Kangaroo market for corporate America with a A$1.325bn (US$955m) four-tranche trade via joint lead managers CBA, Deutsche Bank, Mizuho and TD Securities.
Chinese online food delivery-to-ticketing services provider Meituan Dianping raised US$4.2bn in the world’s biggest internet-focused IPO in four years as it priced the float near the top end of a marketed range, people close to the deal said.
The downgrade of Infrastructure Leasing & Financial Services (IL&FS), part of a group credited with building the longest tunnel in India, sent ripples through the credit market last week after rating agencies raised red flags over its ability to repay debt.