Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
Loss-making Shanghai Chaori Solar Energy Science and Technology ’s unprecedented missed coupon payment last week is set to trigger a change in attitude towards risk in China’s fast-growing capital markets.
A US$340m mezzanine tranche on a US$1.93bn buyout in South Korea is raising hopes for Asia’s growing leveraged finance industry.
AIA Group priced a dollar bond last week that focused solely on US investors, a U-turn from the strategy adopted on its debut debt offering last year as Asian investor interest in the region’s bonds wanes.
The recent volatility in the Chinese currency has rekindled fears over the growing exposure of PRC property developers to overseas debt.
Banco Santander-Chile raised an underwhelming A$125m (US$112m) from a debut three-year Kangaroo bond last week, underlying the reluctance of Australian investors to venture into areas they do not know much about.
Indonesian companies are gearing up to return to the capital markets as a brighter economic outlook lures international investors back to the South-East Asian nation.
Hopes for a revival in Indonesia’s equity capital markets are building, after a popular block trade and the launch of an IPO of Rp3.79trn (US$327m).
Indonesia’s Berau Coal is preparing to tap the offshore US dollar bond market as it awaits the completion of a split between London-listed parent Asia Resource Minerals and Indonesia’s Bakrie family.
China’s first cross-border offering of commercial mortgage-backed securities since 2006 is set to underline the potential for overseas financings backed against onshore assets.
Investors proved last week they preferred to buy convertible bonds with a good story, as well as a coupon, in current market conditions.
As US and European regulators put the final touches on new proprietary-trading rules for banks, some Asian firms are building out desks that make bets with their own money.
Standard Chartered reported last Wednesday its first pre-tax profit decline in a decade and warned that trading performance across the group in the first half was likely to look weak relative to the same period last year.
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Bitcoin ATMs promise to shake things up in conservative Singapore, says Jonathan Rogers.
Bond allocations aren’t fair? Tell me something I don’t know, says Anthony Peters.
Banks in the eurozone are now more exposed to government debt than at any time since the financial crisis began, with many increasingly using their balance sheets to prop up ailing governments, deepening the bank-sovereign link that has already pushed a number of countries and lenders into bailouts.
(Reuters) - A whistleblower will be paid $63.9 million for providing tips that led to JPMorgan Chase & Co’s agreement to pay $614 million and tighten oversight to resolve charges that it defrauded the government into insuring flawed home loans.
Cash-box funding vehicles are, for obvious reasons, difficult to market. The basic investment premise of cutting a cheque purely on the premise of a particular management team’s investment acumen is flawed by the logic of sell now, buy later when the capital raised has actually been invested.
Paul Richards has retired from Bank of America Merrill Lynch after a 28-year career at the firm during which he held a number of senior debt positions, the bank said.
UK banks are plotting capital trades in their home currency market after Nationwide this week sold the largest such deal since the collapse of Lehman, unearthing a surprisingly deep pool of investor demand.
Yields on Telecom Italia’s bond curve fell and the cost of insuring its debt against default dwindled on Friday, after it announced it had hit debt-reduction targets in 2013 and is skipping a dividend to fund much-needed network investment.
Recent volatility in the Chinese currency has rekindled fears over the growing exposure of mainland property developers to overseas debt.
Anthony Peters on the possible mispricing of equities and/or bonds ahead of NFPs.