sections

Monday, 29 May 2017

MOVES-Morgan Stanley promotes two in Australia

29 May 2017

Morgan Stanley has named Bryce Thompson head of equity capital markets for Australia, according to an internal memo seen by IFR.

Bain makes first foray into China NPLs

29 May 2017 By Elzio Barreto

(Reuters) Bain Capital has agreed to buy a portfolio of non-performing loans of US$200m in principal from a Chinese asset manager, in what two people close to the matter said was the US private equity firm’s first such deal in China.

Cogobuy faces covenant breach following share suspension

29 May 2017 By Yan Jiang

Time is running short for Chinese e-commerce company Cogobuy Group, which faces a covenant breach on its debut US$194.5m loan after a trading suspension of its shares last Monday following allegations from a short-seller.

Lotte Chemical starts M$5.9bn IPO premarketing

29 May 2017 By S Anuradha

Lotte Chemical Titan Holding has started premarketing a Bursa Malaysia IPO of up to M$5.9bn (US$1.4bn).

Trade sale talk reduces Lattice float chances

29 May 2017

The potential Australian Securities Exchange listing of Origin Energy’s conventional upstream business, now known as Lattice Energy, is looking less likely following reports of interest from a variety of potential bidders.

MOVES-Deutsche trader joins Citigroup

29 May 2017

Duncan Black has joined Citigroup’s strategic risk solutions team in Singapore.

HKMA sets up anti-money laundering taskforce

29 May 2017

The Hong Kong Monetary Authority has set up a 12-month pilot project aimed at tackling financial crime and money laundering.

S&P sees no need for out-of-schedule China rating review

29 May 2017

(Reuters) S&P is likely to follow its regular ratings review schedule for China and does not see any basis at this point for an out-of-schedule committee meeting, a senior director at the ratings agency told Reuters on Monday.

Shareholders approve i-Cable’s open offer

29 May 2017

Shareholders of i-Cable Communications have approved the financially troubled pay-TV provider’s plan to take on new investors through an open offer of shares of HK$704m (US$91m).

HRnet Group IPO to fetch up to S$174m

29 May 2017 By S Anuradha

HRnet Group intends to raise S$155m–$174m (US$112m–$125m) from its Singapore Exchange IPO at a price range of S$0.80–$0.90.

All Latest news

IFRASIA logo

Top Stories from this week's IFR Asia magazine

Released online
Saturday 0800 Hong Kong / Friday 0000 London

Diabolical Liberty

IFR Asia 993 - May 27, 2017

Australian fixed-income investors do less credit work than their equivalents focused on China. Strange as it may sound, that is the simplest explanation for contrasting responses to ratings moves last week.

Tokyo drift

IFR Asia 993 - May 27, 2017

The biggest risk to Japan’s financial markets right now has nothing to do with the central bank or inflation. It is North Korea that has Tokyo’s bankers most concerned.

BoC steps up for Syngenta buy

BoC steps up for Syngenta buy

IFR Asia 993 - May 27, 2017

China National Chemical Corp has raised US$20bn mainly from perpetual bonds to finance its purchase of Swiss seeds company Syngenta, according to a regulatory filing.

Downgrade rocks Australia's Liberty

Downgrade rocks Australia's Liberty

IFR Asia 993 - May 27, 2017

A mass downgrade of Australian financial institutions last week left Liberty Financial facing an immediate increase in borrowing costs.

Ringgit bonds in for record year

Ringgit bonds in for record year

IFR Asia 993 - May 27, 2017

A sustained recovery in Malaysia’s economy is driving the ringgit bond market to new heights, as borrowers look to capitalise on a rally in government bond yields and a rebound in foreign investment.

A man speaks on the phone outside the Bank of China head office building in Beijing, China.

Markets unfazed by China downgrade

IFR Asia 993 - May 27, 2017

Credit markets took Moody’s downgrade of China in their stride last week, taking the view that concerns over excessive leverage in the world’s second-largest economy have already largely been priced in.

A logo of the Singapore Stock Exchange (SGX) is pictured outside its premises in the financial district of Singapore.

Sea move drains SGX pipeline

IFR Asia 993 - May 27, 2017

Sea, formerly known as Garena, has chosen to list in the US through a US$1bn IPO, adding to doubts over the Singapore Exchange’s efforts to attract homegrown technology companies.

Wuxi Biologics draws IPO crowds

Wuxi Biologics draws IPO crowds

IFR Asia 993 - May 27, 2017

Wuxi Biologics’ Hong Kong IPO of up to HK$3.98bn (US$511m) has drawn strong demand from investors, thanks to the company’s high growth and the absence of exciting floats in the city this year.

China auto ABS motors ahead

China auto ABS motors ahead

IFR Asia 993 - May 27, 2017

Auto loan securitisations have continued to thrive this year in China, in contrast with the sharp decline in vanilla bond sales.

Residential buildings under construction are pictured in Nanjing, China.

Chinese developers eye short-dated issues

IFR Asia 993 - May 27, 2017

Chinese property developers are being urged to look at very short-dated US dollar bonds as a way around tighter scrutiny of offshore borrowing.

SHIBOR Spike: Higher interbank rates squeeze RMB lenders

Rising threat to renminbi loans

IFR Asia 993 - May 27, 2017

Soaring interbank lending rates have become hurdles in China’s syndicated loan market, shutting out potential lenders and leaving borrowers facing higher interest costs.

Moon rising may herald chaebol eclipse

Olam eyes Samurai loan market

IFR Asia 993 - May 27, 2017

Japanese lenders are showing greater interest in loans for overseas borrowers as they search for yield in a negative interest rate environment.

Children look at a mobile phone in front of an advertisement of Samsung Electronic at its store in Seoul, South Korea.

Moon rising may herald chaebol eclipse

IFR Asia 993 - May 27, 2017

Early moves from South Korea’s new president have raised hopes for a shake-up of the chaebol conglomerates that could unleash a flood of lucrative dealmaking.

Melco rides on Macau rebound

Melco rides on Macau rebound

IFR Asia 993 - May 27, 2017

Melco Resorts & Entertainment took advantage of a recovery in the Macau casino industry to cut its interest costs through last Thursday’s US$650m offering of eight-year non-call three bonds.

A dock worker sits next to shipping containers at the main Sri Lankan port in Colombo.

Asian Development Bank: Mobilising resources

Yokohama is an apt setting for the Asian Development Bank’s 50th anniversary meeting. The Japanese port city was one of the earliest to open to international trade, and one of the first beneficiaries of infrastructure financing that combined public and private resources at home and overseas.

A man speaks on the phone outside the Bank of China head office building in Beijing, China.

Markets unfazed by China downgrade

IFR Asia 993 - May 27, 2017

Credit markets took Moody’s downgrade of China in their stride last week, taking the view that concerns over excessive leverage in the world’s second-largest economy have already largely been priced in.

Top two post better 1Q2017 earnings

IFR Asia 993 - May 27, 2017

Malaysia’s two largest banks both reported strong first-quarter earnings gains last week in a sign that the country’s economy is beginning to shrug off the difficulties of the last few years.

S&P upgrade boosts Indonesia bond pipeline

IFR Asia 993 - May 27, 2017

S&P’s decision to award Indonesia investment-grade status will trigger a wave of inflows into South-East Asia’s largest economy and should improve the standing of its borrowers in international markets, bankers and analysts have said.

India’s online push angers bond bankers

IFR Asia 993 - May 27, 2017

India’s securities regulator has caused anger among banks and arrangers with its latest proposals to require more bond offerings to be conducted on the electronic platform introduced last year.

Jonathan Rogers

Much ado about Moody's

IFR Asia 993 - May 27, 2017

Moody’s one-notch downgrade of China’s long-term credit rating last week came as something of a shock to the market, although it didn’t take a crystal ball to see it coming.

More Special Reports

Outlook for Asian Credit Roundtable
The outlook for Asian credit has rarely been brighter. The first quarter of 2017 was a record for international bond issues from Asia, beating the previous three-month record by 25%, and high-yield offerings are booming.

China Securitisation Roundtable
The opening of China’s domestic bond market is the single biggest opportunity in the global fixed income arena today, and securitisation is likely to be among the biggest beneficiaries.

ESG Financing Roundtable
Environmental, social and governance factors are becoming ever more important in investment decisions. Whether fund managers worry about climate change or simply want to protect the long-term value of their portfolio, sustainability is now high on the agenda.

LGFV Funding Roundtable
The finances of China’s local governments are once again capturing the attention of capital markets participants, but for very different reasons.

Digital Edition

Access a digital edition of the latest IFR Asia Magazine here.

To read the IFR Asia Magazine digital edition you will need to enter your details in the login section. If you have forgotten your password, or would like to find out more about IFR Asia, please email ifr.clientsupport@thomsonreuters.com.