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Monday, 27 March 2017

Molybdenum seals US$700m loan for more Tenke mine stake

27 March 2017

China Molybdenum has signed a US$700m seven-year amortising term loan to fund its purchase of an additional 24% stake in Africa’s Tenke copper mine.

SMBC backs MBK's Tasaki MBO

27 March 2017

Private-equity fund MBK Partners is raising a ¥24bn (US$218m) seven-year term loan for its planned ¥31.5bn management buyout of Japan pearl retailer Tasaki, according to a filing to the Tokyo Stock Exchange..

MOVES-Head of China M&A leaves BAML

27 March 2017

Ellis Chu has left his role as head of China M&A at Bank of America Merrill Lynch in Hong Kong.

Bain Capital Wind Hong Kong selling ¥38.6bn Skylark block

27 March 2017

Bain Capital Wind Hong Kong is selling a block of shares of up to ¥38.6bn (US$347m) in Japanese restaurant group Skylark.

China Renaissance forms partnership with ICBCI

27 March 2017

China Renaissance and ICBC International have signed an accord to form a strategic partnership to provide financial services across China, Hong Kong SAR and the US.

India calls for bank bids to run GIC IPO

27 March 2017

The Department of Investment and Public Asset Management has called for bank bids to manage the IPO of state-owned General Insurance Corporation of India.

SBI plans to sell 10% of SBI Life via IPO

27 March 2017

State-owned State Bank of India plans to sell a 10% stake in SBI Life Insurance through an IPO.

Lixil Viva opens books on ¥48.4bn IPO

27 March 2017

Lixil Viva has opened international books on an IPO for a Tokyo Stock Exchange listing of up to ¥48.4bn (US$439m), according to a source close to the float.

Au Financiers plans to launch Rs20bn IPO in late June

27 March 2017

Small Indian finance bank Au Financiers plans to launch a Rs16bn–Rs20bn (US$250m–$300m) IPO in late June.

B Grimm Power to open Bt10bn IPO books in first half of April

27 March 2017

Power producer B Grimm Power plans to open books in the first half of April on its IPO of Bt10bn (US$290m) for a listing on Stock Exchange of Thailand.

All Latest news

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Top Stories from this week's IFR Asia magazine

Released online
Saturday 0800 Hong Kong / Friday 0000 London

No becomes Yes

IFR Asia 984 - March 25, 2017

What a difference a few months can make. Asian equity underwriters, with precious little to celebrate in 2016, are in fine spirits once again.

Pandas in Russia

IFR Asia 984 - March 25, 2017

Aluminium company UC Rusal has been looking to sell bonds in renminbi for at least seven years. While it has finally managed to do so, Russian issuers are no closer to cracking the mainstream Chinese market than they were back in 2010.

Spirits lift for equity deals

Spirits lift for equity deals

IFR Asia 984 - March 25, 2017

Buoyant secondary markets and strong institutional demand are driving a resurgence in Asian equity offerings, with US$8bn of deals launched or completed in the busiest week of the year.

A signboard of China Zheshang Bank is seen in front of a Chinese national flag at its branch in Beijing, China.

Zheshang leads next AT1 wave

IFR Asia 984 - March 25, 2017

China Zheshang Bank last week became the first Chinese bank to issue US dollar Additional Tier 1 securities this year, paving the way for other mainland lenders to raise capital overseas.

Rusal makes Panda statement

Rusal makes Panda statement

IFR Asia 984 - March 25, 2017

Highly leveraged aluminium producer United Company Rusal won over sceptical Chinese investors to complete Russia’s first Panda bond almost seven years after it first attempted to raise funds in renminbi.

European politics trump Asian demand

European politics trump Asian demand

IFR Asia 984 - March 25, 2017

Asian investors are scaling back their exposure to European sovereign and agency bonds ahead of a contentious French presidential election.

India removes block on trust IPOs

India removes block on trust IPOs

IFR Asia 984 - March 25, 2017

The path is now clear for the first test of demand for Indian trust listings after regulators allowed insurance companies to invest in the format.

Yes Bank Chief Executive and Managing Director Rana Kapoor addresses a gathering during the concluding ceremony of the Vibrant Gujarat Summit in Gandhinagar in the western Indian state of Gujarat.

Welcome return for Yes Bank

IFR Asia 984 - March 25, 2017

A smaller offer size and a modest discount helped Yes Bank raise Rs49bn (US$750m) through a follow-on offer after a failed attempt last year.

People stand outside the headquarters of China Oil and Foodstuffs Corporation (COFCO) in Beijing, China, November 3, 2016.

M&A scrutiny dents China loans

IFR Asia 984 - March 25, 2017

Chinese companies have completed only US$1.1bn of merger-and-acquisitions loans so far this year, as government efforts to curb capital outflows and “irrational” overseas takeovers have taken a toll on event-driven lending, Thomson Reuters LPC data show.

Indonesia embraces infra bonds

Indonesia embraces infra bonds

IFR Asia 984 - March 25, 2017

Indonesian companies are embracing the debt market to raise funds for infrastructure spending, as government finances remain constrained by a tight budget.

Indonesian sukuk finds broad appeal

Indonesian sukuk finds broad appeal

IFR Asia 984 - March 25, 2017

The Republic of Indonesia (Baa3/BB+/BBB–) on Wednesday priced a US$3bn dual-tranche sukuk offering below its last conventional dollar issue in early December, despite two US rate increases in the interim.

Singapore withstands Ezra crash

Singapore withstands Ezra crash

IFR Asia 984 - March 25, 2017

Singapore’s domestic bond market remained steady last week despite the collapse of Ezra Holdings, the largest local offshore marine services provider to sink under a mountain of debt.

A visitor is reflected on a Korea National Oil Corp (KNOC) logo on a commuter bus as she walks across a parking lot at KNOC's headquarters in Anyang, southwest of Seoul.

Korean issuers overcome politics

IFR Asia 984 - March 25, 2017

South Korean issuers made a triumphant return to the offshore bond market last week, with investors showing little concern for an ongoing political crisis or the latest missile launches from North Korea.

Passers-by walk past a branch of China Everbright Bank in Shanghai.

China CB whets appetite for more

IFR Asia 984 - March 25, 2017

Investors piled into China Everbright Bank’s A-share convertible bond last week, the largest such offering in nearly seven years, highlighting the artificial limitation of supply in the highly sought-after instruments.

IFR Asia China Securitisation Roundtable 2017: New models emerge

IFR Asia China Securitisation Roundtable 2017: New models emerge

The opening of China’s domestic bond market is the single biggest opportunity in the global fixed income arena today, and securitisation is likely to be among the biggest beneficiaries.

European politics trump Asian demand

European politics trump Asian demand

IFR Asia 984 - March 25, 2017

Asian investors are scaling back their exposure to European sovereign and agency bonds ahead of a contentious French presidential election.

Asia departures mount at Credit Suisse

Asia departures mount at Credit Suisse

IFR Asia 984 - March 25, 2017

Several senior bankers are leaving Credit Suisse in Asia after a tough period for its markets business.

China reforms bond repo rules

IFR Asia 984 - March 25, 2017

China is planning to raise the rating threshold for bonds used as collateral for repurchase transactions in the stock exchange markets, as part of its efforts to curtail excessive leverage at financial institutions.

HKEx launches first RMB options

IFR Asia 984 - March 25, 2017

Hong Kong Exchanges and Clearing last week launched its first currency options, rolling out more renminbi-related derivative products in a bid to cement Hong Kong’s status as the main offshore renminbi trading hub.

Jonathan Rogers

The financial key to Cambodia's future

IFR Asia 983 - March 18, 2017

Life must be lived forwards, but it can only be understood backwards. So wrote the Danish philosopher Soren Kierkegaard in the 19th century. He was writing about human consciousness, but this epigram can just as easily apply to the collective life of countries such as Cambodia, whose tragic history continues to shape its existence.

More Special Reports

IFR Asia ESG Financing Roundtable
Environmental, social and governance factors are becoming ever more important in investment decisions. Whether fund managers worry about climate change or simply want to protect the long-term value of their portfolio, sustainability is now high on the agenda.

LGFV Funding Roundtable
The finances of China’s local governments are once again capturing the attention of capital markets participants, but for very different reasons.

Evolution of Asian Loans Roundtable
Asian loan markets are at a crossroads. 2016 has been a dismal year for the product with volumes declining to a three-year low amid market volatility, slow economic growth and limited M&A activity. The 12% year-on-year drop in the first nine months of 2016 compounds a similar decline in the same period in 2015, which was already reeling from a slowing Chinese economy.

Rmb Bond Markets Roundtable
China is going global, and so is its currency. The renminbi officially entered the International Monetary Fund’s basket of global reserve currencies on October 1, and barely a week goes by without talk of major reforms to open some aspect of the country’s capital markets to the world.

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