Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
Bank of China braved a weak market last week to sell a landmark US$6.5bn offering of Basel III-compliant Additional Tier 1 preference shares and, with it, open the door to a new asset class for China.
A syndicated loan backing Ting Hsin International Group’s purchase of cable TV operator China Network Systems is on hold after Taiwan’s financial regulator urged local banks last Wednesday not to lend to the company.
India’s securities regulator has barred property developer DLF and some of its executives from tapping the capital markets for three years for failing to disclose key information during its 2007 IPO.
Chinese developer Agile Property Holdings, battling an industry slowdown and media speculation about ties to China’s former security chief, said it was in talks with banks about extending what remained of a US$475m loan due in December and the founder’s family would commit to lending US$200m.
Robust domestic demand for the longest Commonwealth Government bond to date spoke volumes for a broadening of the Australian market, as domestic fund managers showed themselves to be willing and able to extend durations for the right credits.
China International Capital Corp, one of the PRC’s top investment banks, is pressing ahead with plans for a Hong Kong listing, despite the resignation of one top executive and the pending departure of another.
Indonesian taxi operator Blue Bird , which postponed an attempt to float last year, has slashed its fundraising size by as much as 35% in its latest bid to go public.
South Korea will finally see its first full corporate hybrid next month, after a string of successful financial capital deals identified robust investor appetite for higher-yielding assets from the country.
The United Kingdom last week became the first foreign country to issue offshore renminbi bonds, with a smoothly executed offering that reflected the Chinese currency’s growing global appeal and London’s efforts to become the world’s trading hub.
Tata Steel has hit the market with its long-awaited US$5.64bn-equivalent loan component of a US$7bn refinancing in the largest and potentially Asia’s most widely syndicated borrowing of the year.
Central American Bank for Economic Integration, or Cabei, is considering the issuance of its first Australian dollar bond as it seeks to garner its remaining financing needs for this year, according to a source at the bank.
Laotian power producer EDL Generation is set to become the first corporate issuer from the landlocked country to sell a baht bond in Thailand.
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Shinzo Abe’s eponymous economic growth plan could be on its last legs.
Editor-at-Large Keith Mullin’s take on the IFR ECM conference in London.
(Reuters) - A group of 25 banks have failed European health checks, while up to 10 of those continue to have a capital shortfall, two people familiar with the matter said on Friday, providing a snapshot of the health of the region’s lenders.
The frayed relationship between the ECB and Germany poses a significant risk to the eurozone outlook.
Tata Motors made an unexpected return to reopen an Asian high-yield market still recovering from a period of volatility.
Dai-ichi Life Insurance’s US$1bn perpetual non-call 10 printed at a competitive funding level, in line with a recently priced Japanese insurance hybrid that had a 30-year maturity.
Reuters correspondents piece together a stark picture of the tense relationship between the ECB and top officials in Berlin.
Anthony Peters says the stakes are high in the AQR results.
RMBS and servicing advance securitisations linked to mortgage servicer Ocwen Financial Corp have held firm this week despite a warning from regulators about the mortgage servicer’s systems and practices and downgrades from rating agencies.
Borrowers again took advantage of the better tone in the high-grade bond market on Thursday, getting a jump on what many expect will be a surge of issuance in the coming weeks.