North Asia
Korea braces for SPAC attack
Special-purpose acquisition companies have arrived in Asia, with South Korea leading the way for an asset class that is new to the region.
Cancellation of AIA’s jumbo listing hits SEHK
Last week’s confirmation that American Insurance Group’s Asian unit is set to be sold to Prudential, rather than spun-off via a Hong Kong IPO, will be a huge disappointment, not just for the nine bookrunners involved but also for the Stock Exchange of Hong Kong. AIA’s removal from the potential issuer list in 2010 is likely to hurt SEHK’s bottom line and create a huge challenge as it tries to maintain its position as the world’s dominant venue for IPO fundraisings.
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Kexim prices global in Korea Inc's fastest offshore execution
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China’s muni bond plan in limbo
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Zhongsheng stuns market with steep valuation
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The big sale: Lotte Shopping to sell debt to fund M&A
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Country Garden’s ‘audacious’ consent plan comes under fire
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China bars trusts from funding land reserves
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Rusal share slide casts doubt on Russia Inc’s HK listing prospects
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China's draft CMBS rules finally arrive
South Asia
Third time lucky for buyers of Vedanta CB
London-listed Indian mining company Vedanta Resources has not been the darling of investors in the equity-linked market. Two previous CB fundraisings – a US$725m deal in 2006 and another for US$1.25bn in 2009 – came at terms the company found attractive, but left investors feeling more than a little hard done by.
Beleaguered Suzlon goes back to CB restructuring table
After spending the most part of 2009 on an arduous CB restructuring exercise, India’s Suzlon Energy, the world’s fifth-largest wind turbine maker, is asking bondholders to come back to the drawing board. The company has also dropped Deutsche Bank from the restructuring mandate and will rely solely on Macquarie for advice.
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ECA financings provide hope for foreign lenders to Indian PF
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Bharti leans heavily on offshore loan for Zain bid
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Timing and onshore funding crucial for Bharti’s US$10.7bn Zain bid
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Volatile markets force Indian government to change tack on divestment process
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CB rules amendment provides relief to Indian issuers
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Thai issuers' plans to go offshore in doubt following global sell-off
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Foreign bondholders put more pressure on Wockhardt
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SBI returns to retail after 15-year absence
South-East Asia
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Philippines affirms credentials with JBIC-guaranteed Samurai
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Maxis’ abrupt volte-face rankles offshore lenders
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Water, water everywhere: ADB mulls ‘water bonds’
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Temasek's domestic bonds return sets benchmark
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Malaysian IPO downsized on price sensitivity
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Property refinancings bring tighter pricing to Singapore
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Asian airlines shed excess baggage ahead of equity fundraisings
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Leads push the envelope on all-rupiah Matahari LBO
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Vietnam leads Asian charge in G3
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Malaysia’s JCY looks to defy market rout
Australasia
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APRA regs clarity helps Queensland to go big
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Time ripe for Aussie borrowers to refinance
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Hope abounds for Aussie CMBS as Leda secures last-minute refinancing
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Opportunistic ADB swoops on Aussie basis tightening
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Westpac to test Japanese appetite for stand-alone Australian bank issuance
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JP Morgan Kangaroo wins over cash-rich investors looking for yield
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Last-minute equity raising helps Lend Lease dodge downgrade to junk
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A deal done well
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World Bank takes advantage of Apra speculation to raise A$1.5bn
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American expansion