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Thursday, 19 January 2017

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Bank of the Year 2016

Bank of the Year

IFR Asia Review of the Year 2016

With rivals feeling the heat from falling fees and local competition, one bank excelled at serving both global and local clients, delivering growth capital where it was most needed. For its read of shifting market dynamics and its dominance of equity underwriting, Morgan Stanley is IFR Asia’s Bank of the Year.

EQUITIES: Go Airlines likely to rehire IPO banks

18 January 2017

India’s Go Airlines is likely to rehire Bank of America Merrill Lynch, Goldman Sachs and Kotak for its planned IPO  of US$150m–$200m.

P&M: Simmons & Simmons relocates Thorley to Hong Kong

18 January 2017

Simmons & Simmons has relocated Marc Thorley to Hong Kong from its London office, according to a statement on the firm’s website.

LOANS: Shanghai Sinooil making offshore debut

18 January 2017

State-owned Shanghai Sinooil Energy Holding is seeking a borrowing of up to US$400m on its debut in the offshore syndicated loan markets. 

P&M: Citigroup names Campbell head of DCM for Australia/NZ

18 January 2017

Citigroup has appointed Ian Campbell head of debt capital markets for Australia and New Zealand.

LOANS: Trafigura launches US$1.5bn revolver

18 January 2017

Commodity trading firm Trafigura Beheer has launched into general syndication a US$1.5bn 364-day multi-currency revolving credit facility, according to a company press release. 

EQUITY-LINKED: Nanya Tech raises US$500m from CB

18 January 2017

Taiwan’s Nanya Technology has raised US$500m from the sale of five-year put-three convertible bonds.

EQUITIES: CIMC wants to suspend placement application

18 January 2017

Dual-listed China International Marine Containers (Group) has written to the China Securities Regulatory Commission to suspend its application for a proposed private share placement to raise up to Rmb6bn (US$869m).

EQUITIES: TPG raises US$70m from Li Ning stake

18 January 2017

TPG Stallion has raised HK$543m (US$70m) from the sale of part of its stake in Chinese sportswear company Li Ning.

P&M: Hong Kong regulator sues StanChart, UBS, KPMG over China Forestry IPO

17 January 2017 By Fiona Lau, Elzio.Barreto

Hong Kong’s securities regulator has filed a suit against Standard Chartered, UBS and four other parties over the 2009 IPO of timber company China Forestry Holdings, according to court documents.

EQUITIES: TPG selling US$71m Li Ning stake

17 January 2017

TPG Stallion is selling up to HK$547m (US$71m) shares in Chinese sportswear company Li Ning through sole bookrunner Bank of America Merrill Lynch.

All Latest news

IFRASIA logo

Top Stories from this week's IFR Asia magazine

Released online
Saturday 0800 Hong Kong / Friday 0000 London

Joint adventures

IFR Asia 975 - January 14, 2017

Change is afoot in the world of Chinese securities joint ventures. More than four years after they were first allowed to raise their equity stakes to 49%, at least two global firms are finally preparing to do just that.

Leveraging China

IFR Asia 975 - January 14, 2017

China says it is serious about containing corporate leverage. The evidence, however, suggests otherwise.

India breaks G3 issuance lull

India breaks G3 issuance lull

IFR Asia 975 - January 14, 2017

India has opened the offshore market for investment-grade corporate bonds from Asia this year, as many of the usual issuers stood on the sidelines.

A Chinese national flag flutters at a construction site for a new residence complex in Beijing.

China bond market freezes over

IFR Asia 975 - January 14, 2017

China’s corporate bond market is set to shrink for a second consecutive month after a disruptive bond scandal and a liquidity squeeze led to a freeze in new issues.

Education IPOs put to the test

Education IPOs put to the test

IFR Asia 975 - January 14, 2017

The Hong Kong listing of a Chinese education provider will provide a stern test of investors’ appetite for the sector after China clamped down on private education firms last November.

Morgan Stanley, UBS to up China stakes

Morgan Stanley, UBS to up China stakes

IFR Asia 975 - January 14, 2017

Morgan Stanley and UBS are aiming to increase their stakes in their Chinese securities joint ventures to 49% each, several people familiar with the matter told IFR.

PRC developers on funding spree

PRC developers on funding spree

IFR Asia 975 - January 14, 2017

China’s property developers are tapping the offshore loan markets to help refinance billions of dollars of maturing debt this year, adding to a string of international bond issues in recent months.

A man walks past a branch of the Australia and New Zealand Banking Group Ltd (ANZ) in Sydney.

ANZ, NAB back with jumbo Samurais

IFR Asia 975 - January 14, 2017

Australia and New Zealand Banking Group led Australia’s major lenders back to the yen market last week with the biggest Samurai bonds offering since 2014.

Korea evades political turmoil

Korea evades political turmoil

IFR Asia 975 - January 14, 2017

The Republic of Korea (Aa2/AA/AA–) shook off continued political turbulence last Thursday to price a US$1bn 10-year Global bond well within initial guidance.

Passersby walk in front of the main branch of Standard Chartered in Hong Kong.

StanChart draws on Asian support

IFR Asia 975 - January 14, 2017

Standard Chartered priced the year’s first US dollar offering of Additional Tier 1 securities last week, underlining its ability to access regulatory capital after skipping a call option on an outstanding note.

Rupiah refinancing gains traction

Rupiah refinancing gains traction

IFR Asia 975 - January 14, 2017

Indonesian companies are turning to the local debt market to refinance dollar debt in a bid to limit the impact of currency volatility and capitalise on growing domestic demand for bonds.

Perisai battle lines drawn

Perisai battle lines drawn

IFR Asia 975 - January 14, 2017

Bondholders are bracing for a long fight to recover their investments in Perisai Petroleum Teknologi’s S$125m (US$86.8m) defaulted notes, after the troubled Malaysian company obtained a court order to restrain any proceedings against it.

A man walks past a backdrop to China Galaxy Securities' investor presentation for their global offering in Hong Kong.

Galaxy trims Shanghai IPO size

IFR Asia 975 - January 14, 2017

China’s first sizable A-share IPO of the year has left little doubt that regulators intend to maintain their tight control on new listings.

National Australia Bank (NAB) Chief Executive Officer Andrew Thorburn reacts as he poses for photographs outside the bank's office building in Sydney, Australia.

NAB widens Tier 2 net

IFR Asia 975 - January 14, 2017

National Australia Bank further broadened its Tier 2 investor base with last Wednesday’s A$275m (US$205m) sale of 5.0% 15-year non-call 10 T2 notes off its global MTN programme.

Parents walk primary school students to school amid thick haze in Chiping county, Shandong province.

IFR Asia ESG Financing Roundtable 2017: A clearer future

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.

Morgan Stanley, UBS to up China stakes

Morgan Stanley, UBS to up China stakes

IFR Asia 975 - January 14, 2017

Morgan Stanley and UBS are aiming to increase their stakes in their Chinese securities joint ventures to 49% each, several people familiar with the matter told IFR.

South Korea toughens IPO rules

IFR Asia 975 - January 14, 2017

Underwriters of South Korean listings stand to face stiff new penalties for the submission of false information as regulators tighten standards in the equity capital markets.

UBS loses top China dealmaker

IFR Asia 975 - January 14, 2017

Joseph Chee, a top deal-maker at UBS in Asia, has resigned to pursue his own interests, according to two people familiar with the departure. Chee is the second senior investment banker to leave the Swiss lender in recent weeks.

Indonesia tightens bond dealer oversight

IFR Asia 975 - January 14, 2017

Indonesia’s finance ministry, which recently cut its business ties with JP Morgan Chase & Co, announced new rules, requiring primary bond dealers to “safeguard” their partnerships with the government and avoid conflicts of interest.

Jonathan Rogers

The infrastructure of a bond market crisis

IFR Asia 975 - January 14, 2017

The frenzy of infrastructure projects in both China and the US is paving the way for another financial crisis, says Jonathan Rogers.

More Special Reports

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.

Evolution of Asian Loans Roundtable
Asian loan markets are at a crossroads. 2016 has been a dismal year for the product with volumes declining to a three-year low amid market volatility, slow economic growth and limited M&A activity. The 12% year-on-year drop in the first nine months of 2016 compounds a similar decline in the same period in 2015, which was already reeling from a slowing Chinese economy.

Rmb Bond Markets Roundtable
China is going global, and so is its currency. The renminbi officially entered the International Monetary Fund’s basket of global reserve currencies on October 1, and barely a week goes by without talk of major reforms to open some aspect of the country’s capital markets to the world.

IMF/World Bank
With 189 member states encompassing virtually the entire globe, the IMF is uniquely positioned to monitor the health of the economic environment throughout the world. Each region presents its own set of circumstances – some positive, some negative – and the ingenuity of the capital markets to navigate a way through this varied landscape should never be underestimated.

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