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Tuesday, 24 May 2016

LOANS: Banco General returns for more

24 May 2016

Panama’s Banco General SA is revisiting the syndicated loan markets for a US$75m three-year bullet term loan, barely two months after wrapping up a US$96.5m facility. 

LOANS: AMP Group Finance sees strong response

24 May 2016

A multi-tranche revolving credit of A$750m (US$539.6m) for AMP Group Finance Services closed with 28 lenders joining the three leads as strong liquidity underpinned demand for a rare loan from an Australian financial institution. 

EQUITIES: Australia Unity Office plans US$110m REIT

24 May 2016

The Australian Unity Office Fund REIT intends to raise A$155m (US$110m) from a listing on the Australian Securities Exchange, according to the offer document.

BONDS: Axis Bank secures sizable Green following

24 May 2016

Axis Bank is building on Asia’s growing footprint in Green financing, having attracted a following of environmentally focused investors for its inaugural US$500m five-year Green offering.

EQUITIES: L&T Info targets June launch for IPO

24 May 2016

L&T Infotech is targeting a mid-June launch for its IPO up to Rs12bn (US$180m), having recently obtained Securities and Exchange Board of India approval for its resubmitted prospectus.

EQUTIES: Medco Energi plans rights issue

24 May 2016

Indonesian oil-and-gas company Medco Energi plans to raise Rp4.66trn (US$340m) from a rights issue of 3.04bn shares.

BONDS: ICBC continues relentless issuance spree

24 May 2016

Industrial Commercial Bank of China is continuing with its relentless bond issuance with the latest offering coming from its New York branch.

P&M: French Treasury chief to join Cathay Capital fund

24 May 2016

(Reuters) The head of the French Treasury will leave his position next month to join a Franco-Chinese investment fund, he said on Monday, a rare move for a top French official.

EQUITIES: CNE sets Rmb1.82bn target for Shanghai IPO

24 May 2016

China Nuclear Engineering intends to raise up to Rmb1.82bn (US$278m) through a Shanghai IPO of 525m shares, after setting the price at Rmb3.47.

EQUITIES: BOCA closes institutional book early

23 May 2016

BOC Aviation will close the institutional book of its Hong Kong IPO of HK$8.74bn (US$1.13bn) one day earlier than planned.

All Latest news

Top Stories from this week's IFR Asia magazine


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Pandas get real with GLP plans

Pandas get real with GLP plans

IFR Asia 943 - May 21, 2016

The Panda bond market, part of China’s drive to open its domestic capital markets by encouraging foreign issuers raise onshore renminbi, may finally be on the verge of serving its intended purpose after a long spate of deals done mostly for publicity reasons.

Ren Jianxin, 57-year-old chairman of China National Chemical Corp, attends a meeting in Beijing.

Few takers for ChemChina loan

IFR Asia 943 - May 21, 2016

The latest giant acquisition financing for a state-owned Chinese borrower is struggling in syndication, underlining the reluctance of global lenders to support China’s overseas ambitions.

Hotel Lotte unveils Korea's biggest IPO

Hotel Lotte unveils Korea's biggest IPO

IFR Asia 943 - May 21, 2016

South Korea’s Hotel Lotte is testing investor appetite for its mammoth Korea Exchange IPO at a time when volatile markets have cooled global IPO activity.

China securities JVs in the money

China securities JVs in the money

IFR Asia 943 - May 21, 2016

All seven Sino-foreign securities joint ventures made a profit in 2015, according to data released last week, as China’s stock-market boom in the first half of the year boosted revenues from IPOs, follow-on offerings, as well as corporate bond underwriting.

Chairman of Zhejiang Geely Holding Group Li Shufu attends a session of the 2nd annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China.

Black cabs tap green funds

IFR Asia 943 - May 21, 2016

Zhejiang Geely Holding Group chose to rely more on Chinese banks than socially responsible investors for the first Green bond from a Chinese automaker, opting for the lowest cost of funding over the widest distribution.

Kexim jumbo dodges Fed shock

Kexim jumbo dodges Fed shock

IFR Asia 943 - May 21, 2016

The Export-Import Bank of Korea last week printed a US$2.5bn bond, its largest on record, with perfect timing just ahead of hawkish comments from Federal Reserve policymakers.

REUTERS/Luis Enrique Ascui

Singapore IPO market heats up

IFR Asia 943 - May 21, 2016

Singapore’s IPO market has seen its busiest week in months after a prolonged drought of issuance. Frasers Logistics and Industrial Trust last week started premarketing a real estate investment trust of up to S$800m (US$585m), while Manulife US REIT made its trading debut.

A man walks past a row of Taiwan's national flags in Taipei.

Taiwanese banks shy away from China

IFR Asia 943 - May 21, 2016

Banks in Taiwan are preparing for a cutback in lending to China amid expectations that the new Democratic Progressive Party government could take steps to restrict their exposure, local bankers say.

A tailor makes Indian national flags ahead of the Republic Day celebrations in Agartala, India.

India readies next UDAY bonds

IFR Asia 943 - May 21, 2016

India is gearing up for a second batch of bond issues as part of a restructuring of stressed electric utilities, amid signs that investor appetite may not be as strong as for the first round.

Manulife draws biggest S$ book

Manulife draws biggest S$ book

IFR Asia 943 - May 21, 2016

Manulife Financial Corp drew the year’s largest Singapore-dollar order book for its S$500m (US$366m) Tier 2 notes, as investors took the chance to earn a relatively high yield without worrying about possible equity conversion.

China equity-linked market set to double

China equity-linked market set to double

IFR Asia 943 - May 21, 2016

China’s equity-linked market is set to double in size as issuers turn to convertible bonds amid volatile market conditions and major shareholders opt for exchangeables to dodge a ban on stake sales.

Jiang Jianqing, chairman of Industrial and Commercial Bank of China Ltd (ICBC), the world's largest lender, attends a news conference on the company's annual results in Hong Kong, China.

Chinese bid for dollars eases

IFR Asia 943 - May 21, 2016

The usually reliable Chinese bid for US dollar bonds has cooled significantly in the last few weeks, raising prospects that issuers may have to offer wider terms to woo investors, according to syndicate bankers and treasurers.

Chinese children walk in a rice field in the southern province of Guizhou.

Asian Development Bank: New partners

The Asian Development Bank is taking commendable steps to position itself as more than just a lender. Faced with rising regional wealth and the arrival of new multilateral institutions, it is right to have one eye on its long-term future. To remain relevant in supporting Asian development, however, it will need to forge new partnerships and show that it can offer more than just its capital.

The waiting game

IFR Asia 943 - May 21, 2016

It is tempting to look at the latest set of results from China’s securities industry and wonder why foreign banks have been paying so little attention to their securities joint ventures.

Policy lending

IFR Asia 943 - May 21, 2016

How long can China’s banks keep writing blank cheques to support overseas acquisitions?

Jonathan Rogers

Philippines election will make Trump look tame

IFR Asia 924 - December 19, 2015

The extreme tactics of crime-busting mayor Rodrigo Duterte are captivating the country, says Jonathan Rogers.

China securities JVs in the money

China securities JVs in the money

IFR Asia 943 - May 21, 2016

All seven Sino-foreign securities joint ventures made a profit in 2015, according to data released last week, as China’s stock-market boom in the first half of the year boosted revenues from IPOs, follow-on offerings, as well as corporate bond underwriting.

China seeks UK input on super-regulator

IFR Asia 943 - May 21, 2016

China has asked Britain for advice on plans to create a financial super-regulator as it looks to improve financial oversight, following last year’s stock-market crash, sources with knowledge of the talks have told Reuters.

Aussie loan fund in rating move

IFR Asia 943 - May 21, 2016

Australian loan fund manager Metrics Credit Partners has obtained an investment-grade rating for its flagship fund in a move that underscores its expansion ambitions and broadens its access to funding.

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