Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
CGN Power, China’s largest nuclear energy producer, is so confident of securing orders for its US$3bn Hong Kong IPO that it has limited most of its bookrunners from premarketing the deal.
Alibaba Group wowed the markets last Thursday with the largest US dollar bond sale on record from an Asian company, pricing its US$8bn debut at levels even tighter than some of the world’s best-known issuers.
Two Indian issuers sold US dollar bonds last week at their lowest credit spreads so far, in the latest sign that surging demand for Indian assets is luring more companies to the international markets.
Adani Enterprises last week took a first step towards raising the funds it needs to develop its US$7bn Carmichael mine project in Australia with a memorandum of understanding for a US$1bn loan.
Signs that private banks are reining in their appetite for Singapore dollar bonds could spell trouble for the small and medium-sized companies that are streaming to the city’s capital markets.
China’s latest offering of offshore renminbi bonds last week put paid to fears of a liquidity squeeze following the launch of a landmark cross-border stock trading scheme between Shanghai and Hong Kong.
Singapore’s IPO market is finally showing some signs of revival, after a series of pulled and downsized transactions in the past few months.
France’s Total priced its first Kangaroo bond last week, raising A$350m (US$306m) in a modestly sized debut that did little to open the market for other overseas issuers.
Natural gas and power supplier SK E&S priced South Korea’s first corporate hybrid last week, but the cautious response underlined the challenge in attracting international investors to subordinated credit from the country’s industrial sector.
New South Wales Treasury Corp broke new ground last Wednesday when it printed the first Dim Sum bond from an Australian state, underlining the country’s growing trade and currency links with China.
The looming departure of Deutsche Bank’s renowned China dealmaker Henry Cai is the latest sign of a generational change in the Greater China capital markets.
China’s first cross-border equity trading scheme got off to a slow start last week, but market participants say the lack of major technical problems so far should entice more international funds to the landmark link-up.
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Keith Mullin finds the continued focus on remuneration astounding.
Canada can gain from a new renminbi licence, but things haven’t always gone well.
Who’s the next target for revenue-generating fines?
Alibaba’s massive debt deal performed more like US credit.
Draghi’s lifting inflation expectations “as fast as possible”.
(Reuters) - China cut interest rates unexpectedly on Friday, stepping up efforts to support the world’s second-biggest economy as it heads towards its slowest expansion in nearly a quarter of a century.
(Reuters) - European Central Bank President Mario Draghi threw the door wide open on Friday for more dramatic action to rescue the euro zone economy, saying “excessively low” inflation had to be raised quickly by whatever means necessary.
Anthony Peters nudges a conflicted Fed and doffs his cap to the Alibaba bankers.
The implications of plans to tackle the problems of banks considered Too-Big-Too-Fail was the hot topic of discussion at IFR’s annual FIG conference on Thursday.
Alibaba wowed the markets Thursday with its ground-breaking US$8bn debut dollar bond, pricing it at levels in line with and even tighter than some of the world’s best-known companies.