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Sunday, 01 February 2015

The IFR Asia Awards 2014

IFR Asia RoY Cover 2014 image





Top Stories from this week's IFR Asia magazine

Released online
Saturday 23:00 Hong Kong / Friday 16:00 London


Double B duo reopens Asia HY

Double B duo reopens Asia HY

IFR Asia 879 - January 31, 2015

A pair of Double B rated issuers last week printed Asia’s first corporate high-yield bonds of the year to buoy a market plagued with a Chinese real estate-led selloff since last month.

Sino-Ocean finds good appetite

Sino-Ocean finds good appetite

IFR Asia 879 - January 31, 2015

Sino-Ocean Land Holdings attracted an order book of US$9bn last week for a US$1.2bn bond offering, an indication that caution over the Chinese property sector had not spread to investment-grade issuers.

Pelindo II drops retail lenders

Pelindo II drops retail lenders

IFR Asia 879 - January 31, 2015

Pelindo II’s last-minute decision to cancel nearly half of a debut US$1bn syndicated loan disappointed the 43 lenders that had just completed credit approvals to join the Indonesian port operator’s generously priced facility.

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

ANZ Tier 1 tests hybrid demand

IFR Asia 879 - January 31, 2015

Australia and New Zealand Banking Group is set to test the local Tier 1 market with a Basel III-compliant offering at a time when the costs of selling hybrids and Australian banks’ capital requirements are both rising.

Rare euro CB entices Asians

Rare euro CB entices Asians

IFR Asia 879 - January 31, 2015

Australia’s Cromwell Property Group reopened Asia Pacific’s convertible bond market last week with a €150m (US$170m) offering, the region’s first such euro-denominated issuance since 2007.

Potential CB default riles India

Potential CB default riles India

IFR Asia 879 - January 31, 2015

India’s Jaiprakash Power Ventures is on the verge of missing payments on its US$200m convertible bond, sparking concerns that another wave of Indian defaults is on its way.

A worker shovels coal at a wholesale coal shop on the outskirts of Agartala, capital of India's northeastern Indian state of Tripura.

India to break equity record

IFR Asia 879 - January 31, 2015

The Indian Government launched an offer for sale in Coal India last week, hoping to price the county’s largest equity offering and breathe life into its divestment programme.

A worker pushes trolleys at a Tesco Lotus supermarket in Bangkok.

Thailand IPOs pin hopes on spinoffs

IFR Asia 879 - January 31, 2015

The Thai IPO pipeline for 2015 is building up quickly, but an expected rush of jumbo new issues will depend on the success of spinoffs of state-owned PTT and the UK’s

REUTERS/Sukree Sukplang

Singapore issuers to amend terms

IFR Asia 879 - January 31, 2015

The Singapore dollar bond market faces a possible increase in the number of consent solicitation tenders as issuers seek looser covenants and deal-starved banks search for new fees.

A-share rally shrinks China CB market

A-share rally shrinks China CB market

IFR Asia 879 - January 31, 2015

An offering of convertible bonds from Shanghai Electric Group last week, while welcome, will do little to halt the contraction of China’s equity-linked market as rising A-share prices trigger buyback covenants.

Hong Kong tycoon Li Ka-shing waves after a news conference in Hong Kong.

Cheung Kong moves fast

IFR Asia 879 - January 31, 2015

Cheung Kong Property Holdings, the newly created property division of Asia’s richest man, Li Ka-shing, is moving quickly to refinance a HK$55bn (US$7.10bn) bridge loan provided earlier this month to back the reorganisation of the tycoon’s conglomerate.

The logo of French bank Natixis is seen outside one of their offices in Paris.

Australia back in focus for French

IFR Asia 879 - January 31, 2015

Several years after eithe downsizing operations in Australia or total withdrawals from the country, French lenders like Natixis and Societe Generale are renewing their focus on the market, which is bracing for A$80bn (US$63bn) of infrastructure asset sales over the next couple of years.

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Keith Mullin 475px June 2014

SG sets about targeted expansion

IFR editor-at-large Keith Mullin outlines ambitious plans at the French bank.

Peters 475px June 2014

No Swiss miss

No doubt. Switzerland will continue to thrive despite a strengthening currency.

IFR

Asia's richest person: the title fight

Jonathan Rogers: The super battle for the slippery title of Asia’s wealthiest.

Cote d’Ivoire mandates three banks for dollar bond

Cote d’Ivoire has picked BNP Paribas, Citigroup and Deutsche Bank to arrange a US dollar-denominated Eurobond, according to sources away from the deal.

Russia

Russian central bank makes surprise interest rate cut

(Reuters) - Russia’s central bank cut its key interest rate on Friday, defying expectations of a hold, as the economy slides towards recession because of a collapse in global oil prices and Western sanctions over the Ukraine crisis.

Singapore pool

Singapore mulls tweaks to covered bond rules

Singapore banks will have to wait a little longer to issue covered bonds as the Monetary Authority of Singapore is looking to tweak its one-year-old covered bond regulations to give leeway to banks seeking to set up trusts and provide more clarity to the new instrument.

The Sydney Harbour Bridge casts a shadow next to the Sydney Opera House and central business district (CBD) as boats make their way along the harbour in this picture taken July 21, 2013. REUTERS/David Gray

RBC Sydney prints five-year benchmark

Royal Bank of Canada, Sydney branch, has returned to the local market to issue A$1.2bn (US$930m) of five-year medium-term notes in two tranches.  

Peters 475px June 2014

On Greek myths and Russian flirting

Anthony Peters looks at examples of deception, decline and deflation.

M&A

Consumer loan ABS on the rise in 2015

Securitizations backed by unsecured consumer loans are growing in prominence so far in 2015, as the asset class attracts greater interest from investors hunting for yield.

James Saft - June 2014

Alibaba combines China and hot stock risks

Private firms are creatures of government in China, says James Saft.

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Not just about yield

IFR Asia 879 - January 31, 2015

A pair of Double B rated issuers gave Asia’s tired high-yield bond market a vote of confidence last week. It could not have come at a better time: the trades from India’s Delhi International Airport, or Dial, and China’s CAR Inc illustrated that the global hunt for yield continues apace, even as troubles at Chinese property issuers frighten a lot of good money away from Asian junk bonds.

Red convertibles

IFR Asia 879 - January 31, 2015

Reports about the death of the Chinese convertible bond market may turn out to be greatly exaggerated.

Comment and Opinion

Jonathan Rogers

Asia's richest person: the title fight

IFR Asia 879 - January 31, 2015

Jonathan Rogers gives the lowdown on the super battle for the slippery title of Asia’s richest.

Logo of the European Covered Bond Council

ECBC mulls covered-ABS hybrid

IFR 2068 31 January 2015 to 6 February 2015

The European Covered Bond Council is testing the ground for a new hybrid product that would combine securitisation and covered bond features while using SME loans as collateral, which could improve lending to that sector.

A-share rally shrinks China CB market

A-share rally shrinks China CB market

IFR Asia 879 - January 31, 2015

An offering of convertible bonds from Shanghai Electric Group last week, while welcome, will do little to halt the contraction of China’s equity-linked market as rising A-share prices trigger buyback covenants.

The logo of French bank Natixis is seen outside one of their offices in Paris.

Australia back in focus for French

IFR Asia 879 - January 31, 2015

Several years after eithe downsizing operations in Australia or total withdrawals from the country, French lenders like Natixis and Societe Generale are renewing their focus on the market, which is bracing for A$80bn (US$63bn) of infrastructure asset sales over the next couple of years.

The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore.

Singapore mulls rule tweaks

IFR Asia 879 - January 31, 2015

Singapore banks will have to wait a little longer to issue covered bonds as the Monetary Authority of Singapore is looking to tweak its one-year-old covered bond regulations to give leeway to banks seeking to set up trusts.

Special report

Bank of the year

Bank of the year

IFR Asia Review of the Year 2014

In a year when bond offerings reached new heights, China embraced global markets and equity financings put India and Australia back on the world stage, one bank captured every trend. For its unrivalled breadth of expertise, Citigroup is IFR Asia’s Bank of the Year.

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