Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
The United Kingdom is to become the first foreign country to issue an offshore renminbi bond in a symbolic move that points to the currency’s growing global appeal.
A conservative valuation stance and a partly superstitious approach to pricing, even in the face of overwhelming demand, ensured the long-awaited US$21.8bn NYSE IPO of
Lenders spent nine months poring over the books, sizing up management and even checking out the factory floor at China’s Ultrasonic before deciding in August to give the Frankfurt-listed shoemaker an unsecured credit facility of US$60m.
Chong Hing Bank sold its first Basel III-compliant Additional Tier 1 bond last week, rekindling the debate about the role of loss-absorbing bonds in Asia ahead of a deluge of capital raisings from Chinese and Indian lenders.
Anglo-Swiss mining giant Glencore has given Australia’s underutilised corporate bond market a welcome shot in the arm with a popular A$500m (US$448.5m) five-year bond – the largest deal of its kind in 2014.
Billionaire Wang Jianlin’s Dalian Wanda Commercial Properties is raising funds in what will be Hong Kong’s biggest China-related property IPO.
The success of Impact Growth Real Estate Investment Trust’s Bt7.9bn (US$244m) IPO, Thailand’s first such listing, is encouraging other issuers to resume work on their floats.
China’s nascent securitisation market is on track to exceed Rmb200bn (US$32.6bn) this year as regulators continue to promote asset-backed structures as alternatives to bank lending.
Another oil-and-gas company is finding a Singapore share sale tough going as local investors remain cautious on the sector.
The recent rally in Indian stocks has offered private-equity investors an opportunity to monetise their Indian holdings through initial public offerings.
Societe Generale is looking add more debt capital markets bankers to boost its share of financing markets in China, India and South-East Asia and help connect Asian enterprises with capital and investments in Europe and Africa.
Honghua Group sold a debut US$200m five-year non-call three bond overnight at a tight pricing, despite a choppy market.
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Actions from policymakers are contradictory and self-defeating.
PRC-focused investment bankers now need more than just high-level connections to get by.
(Reuters) - Alibaba Group Holding Ltd’s shares surged by more than 40% in their first day of trading on Friday as investors jumped in to buy what looks likely to be the largest IPO in history.
The Financial Stability Board today put forward proposals to build a central aggregator to combat data fragmentation in the US$710trn over-the-counter derivatives market in order to help global regulators identify build-ups of systemic risk.
Serbia has taken another step towards its potential Eurobond issue after the government announced an austerity package.
Divyang Shaw on the currency’s future after the referendum.
Anthony Peters on the Scotland aftermath and a French downgrade.
Skylark, a restaurant operator controlled by Bain Capital, has cut the size of its IPO to ¥80.1bn (US$734m) after shareholders decided to decrease the amount of secondary shares in the offering.
Banks and other financials raced into the US high-grade bond market on Thursday to take advantage of a jump in risk appetite after the FOMC meeting.
A benchmark unsecured bond from American Airlines (AA) blazed the way in a US high-yield market that saw four drive-by deals Thursday as issuers seized upon a more positive tone to move forward with trades.