02 IFR's daily digest of views & news for capital markets professionals
IFR Editor-at-large Keith Mullin sifts through all the tea leaves before Thursday’s AGM.
Numericable has set final tranching, pricing and timing on its multi tranche HY issue.
CLO issuance in the US in 2014 should roughly be in line with last year’s US$75bn tally despite tougher new regulation in the sector, investors and bankers said at a conference in New York on Tuesday.
Anthony Peters mulls Chinese stimulants, the Numericable mega bond and the risks of being long (or not).
Shanghai-listed China CNR Corporation today started premarketing its proposed Hong Kong IPO of US$1bn–$1.5bn. A roadshow will start in early May, though an exact day has yet to be fixed.
Fresh from the holiday weekend and ahead of a busy week in earnings, Finnish agency Finnvera was in the limelight Tuesday as it looks to price the first euro benchmark issue off its EMTN programme, while looking to grow its investor base.
Shah: China continues to guide the renminbi lower while the BoE eyes sterling’s strength.
National Bank of Greece is to take centre stage in the public bond market this week as it prepares to issue the longest dated bank bond offering from the country since 2009.
Iceland’s Arion Banki is to provide an even greater test of investor appetite for risky banks than recent deals from Greece as it plots its first wholesale market funding in a major currency in six years.
Japan’s Accordia Golf is planning a S$800m–$1bn (US$637m–$796m) business trust IPO of its golf assets on the Singapore Exchange. This is understood to be the first business trust in Asia to contain golf courses.
Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
The recent global selloff in internet stocks in the US has forced China’s Weibo and Leju Holdings to raise significantly less last week than targeted, adding pressure to the long line of Chinese IPOs waiting in the wings.
China is finally about to greet the first real estate investment trust in the domestic market after regulators had no success in attempts to introduce the internationally popular product a decade earlier.
A Chinese solar-module manufacturer plans to raise funds from a convertible bond, as its controlling shareholder attempts to snap up assets from insolvent rivals.
New rules from the China Banking Regulatory Commission may jumpstart the market for securities backed with financial leasing assets, though hurdles other regulators have put up, as well as high financing rates, are likely to limit its growth.
Trust companies in China are becoming more cautious about lending and are reducing exposure to the real-estate sector amid rising defaults.
The Thailand Revenue Department’s recent decision on tax incentives for real estate investment trusts is likely to trigger REIT listings in the second half of the year.
Global investors are turning back to Asian credit in search of better yields and relative value, as high returns in Europe and the US mean portfolio managers see limited upside potential in Western markets.
Solid foreign-investor support for Industrial Bank of Korea’s offering of global depository shares last week has raised hopes that cheaper valuations and relatively stronger aftermarket performances will boost demand for upcoming Korean deals.
The Hong Kong Monetary Authority is stepping up its supervision of the credit-risk management of Hong-Kong-based banks with a call for lenders to maintain a specific rate of loan growth against a stable funding level.
Bonds: SAR seen as Greater China’s gateway to Islamic world
Sri Rejeki Isman raised US$200m from a five-year non-call three bond last Monday, becoming the smallest Indonesian corporation to debut in the US dollar bond market.
The planned introduction of the Shanghai-Hong Kong cross-border equity trading scheme later this year is encouraging brokers in the two financial hubs to build out their trading businesses in anticipation of an increase in flows.