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Thursday, 17 August 2017

Yes Bank launches ¥5bn Samurai loan

16 August 2017 By Wakako Sato

India’s Yes Bank is raising ¥5bn (US$45m) from a one-year loan in Japan, returning to the offshore loan markets within a year of closing a US dollar borrowing.

Senrigan seeks Yancoal rights decision review

16 August 2017

Hedge fund Senrigan Capital Management and its founder, Nicholas Taylor, are seeking a review of the Australian Takeovers Panel decision to allow a US$2.5bn stock offering from miner Yancoal Australia to proceed.

China's July new loans fall to 8-month low as curbs bite

16 August 2017

(Reuters) China’s new loans in July fell to their lowest in eight months due to property curbs that have cooled mortgage lending and seasonal factors, reinforcing views that its economic growth will start to moderate in coming months.

Zai Lab files for US IPO

16 August 2017

Shanghai-based biopharmaceutical company Zai Lab has filed for a US$115m Nasdaq IPO with Citigroup, JP Morgan and Leerink as joint bookrunners.

Cifi Holdings prints debut US$300m dollar perpetuals

16 August 2017

Cifi Holdings (Group), rated Ba3/BB–/BB–, yesterday became the latest Chinese property developer to take advantage of the low-yield environment with an issue of tightly priced debut US$300m senior US dollar perpetual non-call five securities.

YY raises US$403m from share sale

16 August 2017

YY, a live streaming social media platform in China, has raised US$403m from a primary follow-on offering.

Carnival Group plans HK$1.97bn rights issue

16 August 2017

Carnival Group International Holdings plans to raise up to HK$1.97bn (US$252m) from a rights issue.

CSRC ends review of Jiangxi Copper's A/H placement

16 August 2017

The China Securities Regulatory Commission has closed its review of Jiangxi Copper’s proposed private placement of up to US$758m A/H shares, after the copper producer applied to withdraw the application a month ago.

Approval for Blackcow Food private placement of Rmb15bn

16 August 2017

Blackcow Food has cleared a China Securities Regulatory Commission hearing for a proposed private share placement of up to Rmb15bn (US$2.24bn).

Medco Energi returns for US$360m RBL facility

16 August 2017

Medco Energi Internasional is seeking a US$360m reserve-based lending facility for the development of new oil and gas fields off the north-west coast of Borneo island.

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

Age of alternatives

IFR Asia 1004 - August 12, 2017

The latest addition to the Asian loan market’s toolkit has raised the bar for leveraged financing.

Hammered home

IFR Asia 1004 - August 12, 2017

The first principal loss on an onshore Chinese bond is a small, painful step in the right direction.

Dongbei hammers out restructuring

Dongbei hammers out restructuring

IFR Asia 1004 - August 12, 2017

Chinese state-owned steelmaker Dongbei Special Steel Group last week unveiled a restructuring that includes the first principal loss in China’s public bond market.

Unitranche LBO lands in Australia

Unitranche LBO lands in Australia

IFR Asia 1004 - August 12, 2017

iNova Pharmaceutical has broken new ground in Australia’s loan market with the first unitranche debt financing for a leveraged buyout, providing a funding option for financial sponsors in the Asia-Pacific region.

Vietnam share sales to test rules

Vietnam share sales to test rules

IFR Asia 1004 - August 12, 2017

Two Vietnamese companies are preparing to test the depth of the domestic equity market with share sales totalling more than US$900m before the end of the year.

Support for Singapore bondholders

Support for Singapore bondholders

IFR Asia 1004 - August 12, 2017

Singapore’s top investor advocate is ramping up its role in bond restructurings, providing a platform for individual investors to voice grievances as a unified group.

North Korean tensions rattle high yield

North Korean tensions rattle high yield

IFR Asia 1004 - August 12, 2017

The escalating war of words between North Korea and the US dented demand for offerings of Asian high-yield bonds at the end of last week, forcing two issuers to cut issue sizes and pay up to keep investors on board.

Formosa market welcomes low Triple B

Formosa market welcomes low Triple B

IFR Asia 1004 - August 12, 2017

Taiwan’s foreign-currency bond market broke new ground this month after Export-Import Bank of India became the lowest-rated borrower so far to sell Formosa bonds.

Japan Post Holdings' Chief Executive Officer Masatsugu Nagato speaks at a news conference in Tokyo, Japan.

Delayed delivery for Japan Post

IFR Asia 1004 - August 12, 2017

The mammoth US$10bn-plus sale of shares in Japan Post Holdings is likely to be pushed back to the autumn as the company struggles with a sagging share price and the poor performance of Australian subsidiary Toll Holdings.

Chinese issuers revive US IPOs

Chinese issuers revive US IPOs

IFR Asia 1004 - August 12, 2017

Chinese companies are heading back to the US equity market after a few slow years for IPOs, with at least five preparing to list as early as September to raise a combined US$1.8bn.

Bond boost: Aussie issuance on track to smash 2014 record

Expanding buyside boosts Aussie bonds

IFR Asia 1004 - August 12, 2017

Two years after Apple’s debut put Australia’s domestic market on the global map, another jumbo Kangaroo bond from a major US borrower has renewed hopes of further growth Down Under.

Japan pension funds go global

Japan pension funds go global

IFR Asia 1004 - August 12, 2017

Japanese pension funds are embracing yen bonds sold without local language documentation in a bid to boost returns.

Asian project bonds ramp up

Asian project bonds ramp up

IFR Asia 1004 - August 12, 2017

Capital markets are set to play a greater role in financing Asian infrastructure, adding firepower to the banking sector’s traditional dominance of project finance, say analysts at rating agencies.

A logo of IL&FS (Infrastructure Leasing and Financial Services Ltd.) is seen on a building at its headquarters.

IL&FS eyes novel financings

IFR Asia 1004 - August 12, 2017

Infrastructure Leasing & Financial Services is looking at new financing options in the domestic and overseas markets as Indian banks put the brakes on lending.

IFR Asia Green Bonds Roundtable 2017: Sustainable growth

IFR Asia Green Bonds Roundtable 2017: Sustainable growth

Asia’s Green bond market is beginning to bloom. Even in a quiet year for China’s domestic market, the arrival of first-time issuers from the likes of India, Australia and Singapore is adding new depth to the region’s green finance push.

Support for Singapore bondholders

Support for Singapore bondholders

IFR Asia 1004 - August 12, 2017

Singapore’s top investor advocate is ramping up its role in bond restructurings, providing a platform for individual investors to voice grievances as a unified group.

A logo of IL&FS (Infrastructure Leasing and Financial Services Ltd.) is seen on a building at its headquarters.

IL&FS eyes novel financings

IFR Asia 1004 - August 12, 2017

Infrastructure Leasing & Financial Services is looking at new financing options in the domestic and overseas markets as Indian banks put the brakes on lending.

HNA moves to clear ownership concerns

IFR Asia 1002 - July 29, 2017

Chinese conglomerate HNA Group has pushed back against media reports that it faces mounting pressure from bankers and regulators, even as it announced a shareholding shake-up in a bid to quash concerns over its ownership.

Jonathan Rogers

China high-yield: Beware the cash leakage

IFR Asia 1003 - August 5, 2017

The recent stumble of Asia’s high-yield bond market has prompted me to revisit that issue which is always thorny when it comes to high-yield credit: cash leakage.

More Special Reports

IFR Asia Issue 1000
2017 is a significant year in the history of Asia’s financial markets. It is now 20 years since the devaluation of the Thai baht marked the beginning of a crippling financial crisis that rippled across Asia. It’s also 20 years since Hong Kong returned to Chinese rule, following the handover of the former British colony.

IFR Asia Asian Development Bank Roundtable
IFR’s annual ADB roundtable, held as part of the Asian Development Bank’s annual meetings hosted this year by Yokohama, took place at a significant moment. This year marked not just the 20th anniversary of the Asian financial crisis but more importantly perhaps the 50th anniversary of the founding of the Asian Development Bank.

Asian Development Bank
Yokohama is an apt setting for the Asian Development Bank’s 50th anniversary meeting. The Japanese port city was one of the earliest to open to international trade, and one of the first beneficiaries of infrastructure financing that combined public and private resources at home and overseas.

Outlook for Asian Credit Roundtable
The outlook for Asian credit has rarely been brighter. The first quarter of 2017 was a record for international bond issues from Asia, beating the previous three-month record by 25%, and high-yield offerings are booming.

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