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Thursday, 14 December 2017

Morgan Stanley launches Sunac top-up

14 December 2017

Morgan Stanley is in the market with a top-up placement of shares in Hong Kong-listed property company Sunac China.

Airtac taps NT$5bn refi

14 December 2017

Taiwan-listed Airtac International has launched a NT$5bn (US$167m) five-year refinancing.

Barbeque-Nation to launch Rs10bn IPO in first quarter

14 December 2017 By S Anuradha

Barbeque-Nation Hospitality plans to launch a Rs6.5bn–Rs10bn (US$100m–$155m) IPO in the first quarter of next year, a person with knowledge of the transaction has said.

ASE jumbo loan for SPIL merger moves ahead

14 December 2017

A jumbo loan of around NT$90bn (US$3bn) for a merger between Advanced Semiconductor Engineering, the world’s largest chip packager and tester, and Siliconware Precision Industries is moving ahead with regulatory approvals already in place.

Lens Technology raises Rmb4.8bn from CB issue

14 December 2017

Lens Technology has sold Rmb4.8bn (US$726m) of six-year convertible bonds, with only 13.54% going to existing shareholders of the company.

LexinFintech launches US$132m Nasdaq IPO

14 December 2017

Chinese consumer lending firm LexinFintech has opened books for a Nasdaq IPO of up to US$132m.

WuXi Biologics’ shareholder raises HK$5.07bn from upsized block

14 December 2017

WuXi Biologics Holdings, the largest shareholder of Hong Kong-listed WuXi Biologics, has raised HK$5.07bn (US$649m) from an upsized block sale in the company.

Hon Hai Precision eyes unit's listing in Shanghai

14 December 2017

Taiwan-listed Hon Hai Precision Industry has secured board approval to list subsidiary Foxconn Industrial Internet on the Shanghai Stock Exchange.

Block launched in WuXi Biologics

13 December 2017

WuXi Biologics Holdings has launched a HK$4.3bn–$4.4bn (US$551m–$565m) block in WuXi Biologics Cayman in the HK$40–$41 range, according to a term sheet.

ChemChina takeout attracts 15 underwriters

13 December 2017

Fifteen underwriters have lined up for a US$5.5bn loan that will refinance the jumbo bridge facility China National Chemical used to acquire Swiss seeds and pesticides company Syngenta.

All Latest news

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Top Stories from this week's IFR Asia magazine

Released online
Friday 1600 Hong Kong / Friday 0900 London

Rushed bonds

IFR Asia 1021 - December 9, 2017

After a 60% jump in the amount of international bonds sold from Asia Pacific issuers over the past two years, it’s worth asking whether arrangers are paying enough attention to the deals they bring to market.

Momentum trade

IFR Asia 1021 - December 9, 2017

With less than a month to go before the end of the year, the pipeline of Hong Kong listings could hardly look better. Matching expectations with reality, however, will be a challenge.

Lufax nears IPO amid crackdown

Lufax nears IPO amid crackdown

IFR Asia 1021 - December 9, 2017

Chinese online wealth management and peer-to-peer lending firm Lufax has set the ball rolling on a Hong Kong IPO that could raise US$3bn–$5bn, even as China takes steps to crack down on consumer finance.

Indonesian President Joko Widodo (C) makes a statement on the U.S. recognition of Jerusalem as Israel's capital, at the Presidential Palace in Bogor, West Java, Indonesia.

Indonesia goes Global with SEC trade

IFR Asia 1021 - December 9, 2017

The Republic of Indonesia capped its return to full investment-grade status with a strong US response to last Monday’s US$4bn Global, its first SEC-registered bond in more than 20 years.

HNA to extend third offshore loan

HNA to extend third offshore loan

IFR Asia 1021 - December 9, 2017

Debt-laden HNA Group is extending another offshore loan related to its 2016 acquisition of Swiss airline catering firm Gategroup Holding, amid growing concern over the conglomerate’s access to funding.

Managements and officials present a ceremony for founding China Great Wall Asset Management Co. in Beijing, China.

Errors build on record bond issuance

IFR Asia 1021 - December 9, 2017

Market participants have warned that the record volume of Asian bond issuance, coupled with a reduced number of staff at many banks and law firms, is leading to increasing errors in documentation.

China Reform falls short on debut

China Reform falls short on debut

IFR Asia 1021 - December 9, 2017

State-owned China Reform Holdings last Monday failed to meet its target size for a debut offering of US dollar bonds after structural deficiencies kept investors away and almost half its bookrunners dropped out.

Early setback for Indian munis

Early setback for Indian munis

IFR Asia 1021 - December 9, 2017

The city of Pune drew praise in June for completing India’s first municipal bond sale in a decade. Six months later, it has yet to use the proceeds because of project delays, casting a cloud over the market’s development.

Policybazaar readies India's first fintech IPO

Policybazaar readies India's first fintech IPO

IFR Asia 1021 - December 9, 2017

Policybazaar.com has started preparations to become the first Indian financial technology company to go public with plans for a US$200m–$400m domestic IPO.

Acleda lures Taiwan banks to longer maturity

Acleda lures Taiwan banks to longer maturity

IFR Asia 1021 - December 9, 2017

Acleda Bank, Cambodia’s largest lender, has successfully placed a US$50m five-year syndicated loan, becoming the latest frontier market borrower to take advantage of bank liquidity to extend loan maturities.

Rental push spurs new bonds

Rental push spurs new bonds

IFR Asia 1021 - December 9, 2017

China’s push to develop the rental housing sector is offering cash-strapped property developers a way back to the onshore bond market after more than a year of issuance restrictions aimed at cooling down property prices.

China opening sparks talent war

China opening sparks talent war

IFR Asia 1021 - December 9, 2017

More than 30 global asset managers have been awarded licences in the last two years to set up wholly owned units in China to seek a share of the country’s US$1.5trn private fund-management market.

Chinese national flag and Hong Kong flag fly behind security cameras outside government headquarters in Hong Kong, China.

China launches SKY yield curve benchmark

IFR Asia 1021 - December 9, 2017

China has introduced a new benchmark for government bond yields, creating an official point of reference for the country’s underdeveloped debt markets and marking a fresh step in efforts to encourage accurate risk pricing.

Fabrice Chemouny, APAC CEO of Natixis Global Asset Management, speaks in Hong Kong, China.

Natixis bets on fixed income, equity derivatives

IFR Asia 1021 - December 9, 2017

Natixis plans a 10% annual increase over the next three years in its 620-strong headcount in Asia, its fastest-growing region, as it expands in areas like fixed income and equity derivatives, its chief executive has said.

IFR Asia IMF/World Bank Roundtable 2017

IFR Asia IMF/World Bank Roundtable 2017

The IMF/World Bank annual meetings this year provided an ideal backdrop for a discussion on the internationalisation of Asia’s capital markets.

Managements and officials present a ceremony for founding China Great Wall Asset Management Co. in Beijing, China.

Errors build on record bond issuance

IFR Asia 1021 - December 9, 2017

Market participants have warned that the record volume of Asian bond issuance, coupled with a reduced number of staff at many banks and law firms, is leading to increasing errors in documentation.

China opening sparks talent war

China opening sparks talent war

IFR Asia 1021 - December 9, 2017

More than 30 global asset managers have been awarded licences in the last two years to set up wholly owned units in China to seek a share of the country’s US$1.5trn private fund-management market.

Jonathan Rogers

Mixed forecast for India's solar ambitions

IFR Asia 1021 - December 9, 2017

There’s a breathless enthusiasm for renewable energy in India. And why not? The case is unimpeachable – both from India’s promises when it signed the COP21 Paris agreement on climate change two years ago and its need to reduce a gaping energy deficit.

More Special Reports

IFR Asia RMB Bonds Roundtable
The renminbi bond markets are undergoing a dramatic transformation. As China continues with the gradual internationalisation of the currency, many foreign investors and issuers are getting their first chance to participate in the onshore renminbi market.

IFR Asia Green Bonds Roundtable
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.

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.

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