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BONDS: Colonial Seeks to Reopen Australian CMBS
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BONDS: Yang Ming Marine NT$5bn 5y Gtd Bond RFPs Out
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EQUITIES: Khazanah Launches M$400m Selldown In Malaysia Airports
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BONDS: CS' Australian Domestic
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BONDS: Lloyds TSB Bank Returns With HK$800m Two Deals
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LOANS: Three Join CMC Magnetics' NT$3bn Loan
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LOANS: Quanta Computer Close To Mandating US$500m Loan
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LOANS: Zhangjiagang Posco Refinancing US$60m Loan
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EQUITIES: Man Wah Launches HK$3.4bn IPO
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LOANS: Equinix Loan Launched Into General
Top Stories
Korea braces for SPAC attack
Special-purpose acquisition companies have arrived in Asia, with South Korea leading the way for an asset class that is new to the region.
Kexim prices global in Korea Inc's fastest offshore execution
The Export-Import Bank of Korea last Tuesday priced a US$1bn Reg S/144a SEC-registered global with the lightning quick same-day execution more typical of the Republic of the Philippines than a South Korean borrower in the G3 offshore space.
Third time lucky for buyers of Vedanta CB
London-listed Indian mining company Vedanta Resources has not been the darling of investors in the equity-linked market. Two previous CB fundraisings – a US$725m deal in 2006 and another for US$1.25bn in 2009 – came at terms the company found attractive, but left investors feeling more than a little hard done by.
Beleaguered Suzlon goes back to CB restructuring table
After spending the most part of 2009 on an arduous CB restructuring exercise, India’s Suzlon Energy, the world’s fifth-largest wind turbine maker, is asking bondholders to come back to the drawing board. The company has also dropped Deutsche Bank from the restructuring mandate and will rely solely on Macquarie for advice.
Cancellation of AIA’s jumbo listing hits SEHK
Last week’s confirmation that American Insurance Group’s Asian unit is set to be sold to Prudential, rather than spun-off via a Hong Kong IPO, will be a huge disappointment, not just for the nine bookrunners involved but also for the Stock Exchange of Hong Kong. AIA’s removal from the potential issuer list in 2010 is likely to hurt SEHK’s bottom line and create a huge challenge as it tries to maintain its position as the world’s dominant venue for IPO fundraisings.
Galaxy heads for loan orbit as Las Vegas Sands falls to earth
A tepid lender reception to Las VegasSands’ US$1.75bn five-year loan is leading to questions over the syndication strategy for rival gaming operator Galaxy Entertainment’s HK$7bn (US$903m) six-year financing.
China’s muni bond plan in limbo
The long-awaited plan to reintroduce municipal bonds in China is in limbo. The Chinese government has included a second Rmb200bn (US$28.6bn) quasi-municipal bond programme in its 2010 budget, which is expected to be passed at the National People’s Congress in Beijing.
If at first you don't succeed . . .
It’s not the mandates, it’s the man: that was how insiders at HSBC were keen to portray the appointment last week of John Crompton – fresh from looking after the UK government’s stakes in the banking sector at UKFI – as the bank’s new global head of ECM. He could help the firm get mandates for the selldowns of RBS and Lloyds, but the bank has a much broader objective for the business. Owen Wild reports.
Up Front
Keep on trying
HSBC didn’t begin its press release announcing its appointment of John Crompton as its new head of ECM with the phrase “Stop me if you’ve heard this one before …”, but it might well have done.
People & Markets
If at first you don't succeed . . .
It’s not the mandates, it’s the man: that was how insiders at HSBC were keen to portray the appointment last week of John Crompton – fresh from looking after the UK government’s stakes in the banking sector at UKFI – as the bank’s new global head of ECM. He could help the firm get mandates for the selldowns of RBS and Lloyds, but the bank has a much broader objective for the business. Owen Wild reports.
Luk for BoA
Michael Luk has left Deutsche Bankwhere he was head of Asia fixed-income capital markets and leveraged debt capital markets to join Bank of America Merrill Lynch as sole head of DCM. Deutsche’s DCM origination is co-headed by Daniel Mamadou and Venky Vishwanathan. They will cover all DCM origination including bonds, private financing and corporate derivatives including FX.
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