Wednesday, 14 November 2018


Airtel Africa IPO could raise at least US$1bn

14 November 2018 By S Anuradha

Airtel Africa, a subsidiary of India’s biggest mobile carrier Bharti Airtel, could raise at least US$1bn through its London IPO, a person with knowledge of the transaction said.

SMFG posts 37% rise in Q2 profit, beats bigger rivals

14 November 2018

(Reuters) Sumitomo Mitsui Financial Group posted on Wednesday a 37% jump in second-quarter net profit, helped by gains from its stock holdings and smaller bad loan costs.

MOVES-DBS reshuffles senior management

14 November 2018

DBS Group has made several senior management changes ahead of the planned retirement of its head of institutional banking Jeanette Wong.

Mizuho Financial Group logo

Mizuho's Q2 profit flatlines

14 November 2018

Mizuho Financial Group’s second quarter net profit flatlined as a fall in credit-related costs and gains from the unwinding of cross-shareholdings helped offset a decline in lending income.

CSSC (Hong Kong) plans HK IPO of up to US$500m

CSSC (Hong Kong) plans HK IPO of up to US$500m

14 November 2018

CSSC (Hong Kong) Shipping Company plans to raise about US$300m-$500m from a Hong Kong IPO next year, according to people close to the deal.

Cache Logistics Trust

Cache Logistics Trust looks to free up assets

14 November 2018 By Prakash Chakravarti

Singapore-listed Cache Logistics Trust is in the market with a S$265m (US$192m) unsecured refinancing that will help release assets used as security for previous borrowings.

Foxconn seeks US$500m takeout for Belkin acquisition bridge loan

Foxconn seeks US$500m takeout for Belkin acquisition bridge loan

14 November 2018 By Evelynn Lin

A unit of Taiwanese conglomerate Hon Hai Precision Industry is seeking a US$500m three-year loan to refinance a bridge loan that funded its acquisition of Belkin International, a US-based maker of smartphone accessories and home networking products.

Zhongyuan Bank rethinks approach for Chinese AT1s

Zhongyuan Bank rethinks approach for Chinese AT1s

14 November 2018 By Daniel Stanton

Zhongyuan Bank priced a US$1.395bn Additional Tier 1 securities offering completely out of line with market pricing, but the trade might still serve as a model for mid-sized Chinese banks to fill their capital needs.

BOC prints 'Greater Bay Area' bonds in four currencies

BOC prints 'Greater Bay Area' bonds in four currencies

14 November 2018 By Carol Chan

Bank of China, rated A1/A/A, yesterday printed US$1.83bn-equivalent of bonds in four currencies through its Hong Kong and Macau branches to fund loans in the so-called “Greater Bay Area” comprising Guangdong, Hong Kong and Macau.

Seek offers tighter pricing for US$874m refi

Seek offers tighter pricing for US$874m refi

14 November 2018 By Evelynn Lin

Australia-listed recruitment firm Seek is offering tighter pricing for its US$874m-equivalent facility compared to that on its previous visit to the loan market in June 2017.

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Top Stories from this week's IFR Asia magazine

Released online
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Chinese President Xi Jinping speaks at the opening ceremony for the first China International Import Expo (CIIE) in Shanghai, China.

China revives tech board dreams

IFR Asia 1066 - November 10, 2018

China made a fresh pitch last week to stem the tide of overseas listings from its fast-growing technology sector as President Xi Jinping announced plans to introduce a “technology innovation board” in Shanghai.

A Goldman Sachs sign is displayed inside the company's post on the floor of the New York Stock Exchange in New York, U.S.

Goldman Sachs appoints Asia capital markets co-heads

IFR Asia 1066 - November 10, 2018

Goldman Sachs has appointed co-heads for its equity and debt capital markets businesses in Asia, promoting four internal managers to new roles.

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Workers clean a red carpet at the Monument to the People’s Heroes for the upcoming Martyrs’ Day in Beijing.

IFR Asia RMB Bonds Roundtable 2018: A clearer path ahead

Onshore renminbi bonds are poised to become the next big thing in the global capital markets, as international investors brace for index inclusion and issuers embrace the Panda bond market as an alternative source of funding. While China has rolled out the red carpet, however, international participants appear to be holding back.

More Special Reports

IFR Asia Belt & Road Financing Roundtable 2018
Almost five years since Chinese President Xi Jinping outlined his vision for a massive infrastructure programme to strengthen China’s trading connections, the Belt and Road initiative is beginning to make its presence felt in Asia’s financing markets.

IFR Asia Green Financing Roundtable 2018
When Green finance first hit the market, there were high hopes that issuers raising funds in such a way would benefit from improved pricing, given the increased transparency and forecast growth in demand from investors.

IFR Asia India debt capital markets Roundtable 2018
IFR’s latest India seminar took place in Mumbai during a timely break in the summer monsoon rains. Over two sessions, delegates debated the outlook for Indian fixed income and the potential for Green finance, tapping into two of the hottest topics in the country’s capital markets.

IFR Asia Asian Development Bank Roundtable 2018
The Philippines, the host of this year’s Asian Development Bank annual meetings, provided an ideal backdrop for a forthright debate on the role of the capital markets in funding Asian infrastructure projects.

IFR Asia Asian Development Bank 2018
It is hard to think of a more appropriate setting for this year’s Asian Development Bank annual meetings. Manila, the Philippines capital, has long been a case study for under-investment in infrastructure, but the current administration is doing its best to shake off that reputation with an ambitious development plan.