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.
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..
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 is selling a block of shares of up to ¥38.6bn (US$347m) in Japanese restaurant group Skylark.
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.
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.
State-owned State Bank of India plans to sell a 10% stake in SBI Life Insurance through an IPO.
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.
Small Indian finance bank Au Financiers plans to launch a Rs16bn–Rs20bn (US$250m–$300m) IPO in late June.
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.
Top Stories from this week's IFR Asia magazine
Saturday 0800 Hong Kong / Friday 0000 London
What a difference a few months can make. Asian equity underwriters, with precious little to celebrate in 2016, are in fine spirits once again.
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.
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.
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.
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.
Asian investors are scaling back their exposure to European sovereign and agency bonds ahead of a contentious French presidential election.
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.
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.
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.
Indonesian companies are embracing the debt market to raise funds for infrastructure spending, as government finances remain constrained by a tight budget.
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’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.
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.
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.