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Wednesday, 23 May 2018

MOVES-Credit Suisse appoints head of APAC financing group India

23 May 2018 By Prakash Chakravarti

Credit Suisse has named Aditya Goenka head of its Asia Pacific financing group India, according to an internal memo and sources.

MOVES-JP Morgan loses Hong Kong-based ECM syndicate banker

23 May 2018

Liu Chang, an executive director in JP Morgan’s ECM syndicate team, has left the bank, according to people familiar with the situation.

MOVES-Chandgothia joins SMBC

23 May 2018 By Prakash Chakravarti

Abhishek Chandgothia, a former director in CTBC Bank, has joined Sumitomo Mitsui Banking Corp.

MOVES-Credit Suisse Indonesia IB coverage head to join Carlyle

23 May 2018

Credit Suisse’s head of Indonesia investment banking coverage Robby Winarta is leaving to join Carlyle Group as managing director.

Senco Gold plans IPO later this year

23 May 2018 By S Anuradha

Indian jeweller Senco Gold is planning a IPO that could raise Rs5bn–Rs6bn (US$74m–$88m) later this year, people with knowledge of the transaction have said.

Malaysia says MoF serviced 1MDB debt

23 May 2018 By Daniel Stanton

Malaysia’s new Finance Minister said the country’s Ministry of Finance had been servicing 1Malaysia Development’s debt obligations since April 2017, and called for a closer look at its debt pile.

State Bank of India sees rebound after US$1.1bn Q4 loss

23 May 2018 By Vishal Sridhar

(Reuters) State Bank of India projected a recovery over the next two years after a record Rs77.18bn (US$1.13bn) fourth-quarter loss following stricter central bank rules around bad loans.

Joyson launches US$1.2bn loan for Takata buy

23 May 2018

Ningbo Joyson Electronics has launched a US$1.2bn five-year loan to back its US$1.588bn purchase of Japan’s Takata.

Goodbaby seeks US$250m loan

23 May 2018

Baby-care products maker Goodbaby International Holdings is seeking a US$250m three-year loan.

MOVES-BNP hires Gupta in loan capital markets; Sim departs

23 May 2018

BNP Paribas has hired Anshul Gupta in its loan capital markets team, while Flavian Sim has resigned.

All Latest news

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Top Stories from this week's IFR Asia magazine

Released online
Friday 1600 Hong Kong / Friday 0900 London

High stakes

IFR Asia 1041 - May 19, 2018

Asian high-yield bonds can offer investors some welcome protection from rising US Treasury yields, but buyers will have to be prepared to ride out the storm first.

Flea market economics

IFR Asia 1041 - May 19, 2018

There is real excitement in Japan around the forthcoming listing of Mercari, an online marketplace for second-hand goods. But is it missing a trick with a sole Tokyo listing?

China offshore debt rush accelerates

China offshore debt rush accelerates

IFR Asia 1041 - May 19, 2018

Dozens more Chinese companies are lining up to sell offshore bonds, adding to the pressure on a market already buckling under the weight of supply.

Foxconn's computer motherboards are seen during the annual Computex computer exhibition in Taipei, Taiwan.

Foxconn sets template for CDRs

IFR Asia 1041 - May 19, 2018

The planned Shanghai IPO of Foxconn Industrial Internet is emerging as an important template in China’s push to attract more listings from the world’s biggest technology companies.

Hong Kong set for first bitcoin-linked IPO

Hong Kong set for first bitcoin-linked IPO

IFR Asia 1041 - May 19, 2018

Two Chinese bitcoin mining equipment makers are set to test equity investors’ faith in the cryptocurrency’s long-term future with plans to raise up to US$1bn each in the world’s largest bitcoin-focused IPOs to date.

Mercari Inc. CEO Shintaro Yamada poses for a photograph during an interview with Reuters in Tokyo.

Mercari readies rare Japan e-commerce IPO

IFR Asia 1041 - May 19, 2018

The Tokyo listing of second-hand goods marketplace app Mercari is set to offer investors a rare opportunity to buy into a Japanese technology unicorn.

A worker from PT Perusahaan Listrik Negara (PLN) conducts maintenance work at a power plant in Jakarta.

PLN sidesteps Treasury spike

IFR Asia 1041 - May 19, 2018

Indonesian power utility Perusahaan Listrik Negara, rated Baa2/BB/BBB, sold two long-dated tranches of US dollar bonds on Tuesday, even though the 10-year Treasury yield hit a seven-year high during bookbuilding.

A woman walks past a signboard of MUFG Bank in Tokyo, Japan.

MUFG revamps in global push

IFR Asia 1041 - May 19, 2018

Mitsubishi UFJ Financial Group will implement a major revamp as it looks to increase earnings from corporate and investment banking overseas by more than a half over the next three years.

A Tigerair Australia plane sits on the tarmac near Virgin Australia aircraft at Melbourne's Tullamarine International Airport, Australia.

Virgin birth for Aussie HY

IFR Asia 1041 - May 19, 2018

Virgin Australia Holdings pushed Australia’s developing high-yield bond market further down the credit curve with the first low Single B rated offering.

A worker enters the Lloyd's of London building in the City of London financial district in London, Britain.

Singapore rate swing delays Lloyds T2

IFR Asia 1041 - May 19, 2018

Lloyds Banking Group is delaying plans for a Singapore dollar bank capital offering after rising rates made the local market less competitive.

Hemant Kanoria, chairman of Srei Infrastructure Finance Limited, speaks on a panel during the Clinton Global Initiative's annual meeting in New York.

Indian NBFCs bet on retail bonds

IFR Asia 1041 - May 19, 2018

Indian non-banking finance companies (NBFCs) are turning to the retail bond market to manage their funding costs, after a spike in short-term yields and tighter rules for electronic bidding pushed up the cost of institutional placements.

Security stands guard in front of NagaWorld casino in central Phnom Penh.

Nagacorp bond opens new frontier

IFR Asia 1041 - May 19, 2018

Nagacorp, which owns and operates the only integrated casino and hotel resort in Phnom Penh, has become the first Cambodian issuer of offshore bonds, overcoming a weak Asian high-yield market.

A pedestrian stands next to a medical diagnostic imaging center for Australia's I-MED Radiology Network, Australia's biggest X-ray provider, located in northern Sydney in Australia.

I-Med buyout loan lures funds

IFR Asia 1041 - May 19, 2018

Asian banks and institutional investors ended up with much less of I-Med’s A$690m (US$519m) buyout loan than they expected folowing a strong response for the deal, underlining the growing appetite for high-yielding financings in the region.

The logo of Nomura Securities is seen at the company's Head Office in Tokyo, Japan.

Nomura rolls out Singapore booking hub

IFR Asia 1041 - May 19, 2018

Nomura is in the midst of setting up a booking hub for derivatives trades in Singapore, joining a growing cohort of global banks examining alternatives to London for their Asian business.

A girl climbs ladder at a playground in Duolun county in north China’s Inner Mongolia Autonomous Region.

Asian Development Bank 2018: Growing up fast

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.

Digital Edition

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A woman walks past a signboard of MUFG Bank in Tokyo, Japan.

MUFG revamps in global push

IFR Asia 1041 - May 19, 2018

Mitsubishi UFJ Financial Group will implement a major revamp as it looks to increase earnings from corporate and investment banking overseas by more than a half over the next three years.

The logo of Nomura Securities is seen at the company's Head Office in Tokyo, Japan.

Nomura rolls out Singapore booking hub

IFR Asia 1041 - May 19, 2018

Nomura is in the midst of setting up a booking hub for derivatives trades in Singapore, joining a growing cohort of global banks examining alternatives to London for their Asian business.

More Special Reports

IFR Asia Outlook for Asian credit Roundtable 2018
The end of the first quarter of 2018 provided the ideal backdrop for a debate on the future of Asia’s credit markets. After a bumper year for Asian bonds in 2017, followed by the busiest January for international issuance on record, rising US Treasury yields and renewed diplomatic tensions have injected a note of uncertainty.

IFR Asia Reg S Bonds Roundtable 2018
The growth of the Reg S bond market has been one of the defining trends of the Asian capital markets in recent years. Driven by the seemingly unstoppable rise of Asian wealth – especially deep-pocketed Chinese investors – US dollar bond sales in the region no longer depend on the participation of US institutions.

IFR Asia IMF/World Bank Roundtable 2017
The IMF/World Bank annual meetings this year provided an ideal backdrop for a discussion on the internationalisation of Asia’s capital markets.



IFR Asia RMB Bonds Roundtable
The renminbi bond markets are undergoing a dramatic transformation. As China continues with the gradual internationalisation of the currency, many foreign investors and issuers are getting their first chance to participate in the onshore renminbi market.