A Rmb3.45bn (US$500m) five-year convertible bond has been launched in China Railway Construction Corp.
Credit Suisse has lowered the 2018 profit target for its Asia business from SFr2.1bn (US$2.08bn) to SFr1.6bn following a slump in investment banking fees, the bank announced at its investor day today.
Hong Kong’s Baring Private Equity Asia is finalising allocations and pricing on a US dollar tranche of a US$535m-plus seven-year term loan B to fund its takeover of risk compliance services firm SAI Global.
Winston Tay has been appointed head of the Asian debt syndicate team at ING Bank in Singapore from today, with responsibility for all of Asia and Australia.
The Asian Infrastructure Investment Bank is recruiting investment managers for an active global fixed income mandate.
Australia’s Freedom Foods Group has launched an equity raising of A$75m (US$55m) involving a rights issue and a placement, according to a company statement.
Yunnan Energy Investment Overseas Finance faced a complicated market backdrop for a dual-tranche US dollar bond offering and nervous investors forced it into a sizable concession.
Japan’s Securities and Exchange Surveillance Commission has recommended fining Morgan Stanley MUFG Securities ¥220m (US$1.9m) for market manipulation.
Shanghai-listed Jangho Group has secured board approval for a proposed spin-off and a listing of subsidiary Steve Leung Designers on the main board of the Stock Exchange of Hong Kong.
Citigroup has named James Arnold head of Asia Pacific debt capital markets syndicate to replace Duncan Phillips.
Details have emerged on the US$385m loan backing Australian satellite communications services provider SpeedCast International’s US$425m acquisition of Harris CapRock.
Reliance Infrastructure plans to file the draft prospectus for its Rs50bn (US$736m) infrastructure investment trust IPO by the end of December.
PricewaterhouseCoopers has opened its first regional foreign law practice in Singapore, it said in a statement today.
NRW Holdings has named FIIG Securities lead arranger to sell A$60m–$70m (US$44.5m–$57.5m) of 7.5% four-year senior secured corporate medium-term notes to eligible professional and sophisticated investors.
African Development Bank, rated Aaa/AAA (Moody’s/S&P), has issued the third and longest Green Kangaroo bonds with today’s 15-year notes of A$55m (US$41m) via sole lead manager Nomura.
Top Stories from this week's IFR Asia magazine
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Singapore’s first crowdfunded bond issue brings the threat of fintech platforms one step closer to the Asian capital markets. If alternative markets take off, the doomsday theory holds that banks face disintermediation and investors face more risk. In reality, however, both groups should be welcoming the development.
Indonesia’s move to pre-fund part of its annual budget at the end of 2015 proved to be a wise one. Whether that strategy will pay off in 2016, however, is hard to tell.
The Republic of Indonesia, rated Baa3/BB+/BBB–, sold US$3.5bn of bonds across three tenors last Thursday, becoming the first emerging market sovereign to print since the US election unleashed a new wave of volatility.
Metech International, an electronic-waste management company, is marketing a S$2m (US$1.4m) crowdsourced bond, the first of its kind in Singapore.
China clamped down on capital outflows last week in a surprise move that bankers warned could scupper outbound acquisitions and make it harder for PRC firms to raise funds overseas.
China National Chemical Corporation received a strong response from European investors for its debut euro-denominated bond, following a string of acquisitions in the region.
Indonesia’s central bank is looking to deepen the domestic bond market and has intervened to combat heavy selling by foreign investors in recent weeks, according to its deputy governor.
Standard Chartered is due to cut around 10% of its corporate and institutional banking staff, with the largest number occurring in Hong Kong and Singapore, several people with knowledge of the matter said last week.
Huarong Asset Management raised questions last week over the motives for overseas bond investments after the Chinese bad bank announced it had subscribed to a recent public US dollar bond from a state-controlled company in good financial health.
Shinhan Bank defied a brewing political crisis in South Korea and a volatile US Treasury market to sell Tier 2 bonds last week.
Commonwealth Bank of Australia this week begins marketing its first offering of residential mortgage-backed securities in nine months as the asset class continues its end-of-year revival.
The Government of Western Australia has announced plans to float 51% of the state’s power grid, Western Power, setting the scene for a major listing from the infrastructure sector.
Indian companies are more reliant on institutional investors for their equity offerings after the demonetisation of widely used banknotes reduced demand from high-net-worth individuals and retail investors.