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.
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.
Simmons & Simmons has relocated Marc Thorley to Hong Kong from its London office, according to a statement on the firm’s website.
State-owned Shanghai Sinooil Energy Holding is seeking a borrowing of up to US$400m on its debut in the offshore syndicated loan markets.
Citigroup has appointed Ian Campbell head of debt capital markets for Australia and New Zealand.
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.
Taiwan’s Nanya Technology has raised US$500m from the sale of five-year put-three convertible bonds.
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).
TPG Stallion has raised HK$543m (US$70m) from the sale of part of its stake in Chinese sportswear company Li Ning.
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.
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.
Top Stories from this week's IFR Asia magazine
Saturday 0800 Hong Kong / Friday 0000 London
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.
China says it is serious about containing corporate leverage. The evidence, however, suggests otherwise.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.