Top Stories from this week's IFR Asia magazine
Friday 1600 Hong Kong / Friday 0900 London
The flight to quality in India’s bond market is set to continue after delayed redemptions highlighted the risks facing mutual funds, among the biggest buyers of lower-rated corporate bonds.
Ten months after regulators rushed out rules to attract domestic listings from China’s technology sector, the first overseas-domiciled company has filed to sell Chinese depositary receipts on Shanghai’s new tech board.
The Stock Exchange of Hong Kong has tightened its review of IPO applications from Chinese K-12 education companies because of policy uncertainty surrounding the sector, according to people familiar with the situation.
The Australian ABS market is about to broaden following parliamentary approval of the A$2bn (US$1.42bn) taxpayer-funded Australian Business Securitisation Fund.
Japanese banks are braced for a surge of project financings from the wind power sector that could total as much as ¥3trn (US$26.8bn) as the country scales up its use of renewable energy.
Frasers Property boosted its environmental credentials with a A$600m (US$429m) five-year Green loan, the Singaporean company’s third since its debut late last year and the first Aussie dollar-denominated Green deal.
Early results indicating a victory for Indonesian president Joko Widodo in last Wednesday’s elections bode well for the country’s debt capital markets as investors look forward to five more years of macro stability and infrastructure spending that will help fuel a growing economy.
Chinese regulators have asked securities firms to offer credit hedging tools alongside corporate bond sales from private-sector issuers in the exchange market, according to people familiar with the guidance.
Credit Suisse has joined a growing list of banks in taking a majority shareholding in a Chinese securities joint venture, potentially paving the way for the Swiss bank to make a big push in secondary trading.
Asia’s internet firms are challenging the region’s traditional banks in consumer finance, tapping their massive user networks for business and following a trail blazed in China by tech giants Alibaba and Tencent.
The Reserve Bank of New Zealand has extended the deadline again, from May 3 to May 17, for stakeholder feedback on its proposal to raise the minimum amount of capital that banks must hold. The original deadline was March 29.
FTSE Russell has confirmed that it is considering adding Chinese government bonds to its flagship World Government Bond index, while placing Malaysia on notice for removal from WGBI.
UBS has become the first international bank to sponsor a proposed IPO on China’s new tech board, even after the Shanghai Stock Exchange said earlier this week that sponsors would be required to invest in the deals they bring to market.
Kakao Page, a Korean digital content marketplace, has mandated NH Investment & Securities and KB Securities to work on a proposed Korea Exchange IPO, according to people with knowledge of the transaction.
The books of SNK’s KRX IPO of up to W170bn (US$150m) are multiple times covered, according to a person close to the deal.
US family tracking app operator Life360 is set to raise A$145m (US$104m) from an ASX IPO that could be Australia’s largest technology float in three years.
Shandong Yuanli Science and Technology and Hongta Securities have cleared a China Securities Regulatory Commission hearing for proposed Shanghai IPOs.
Chinese brokerage Shenwan Hongyuan Group has raised HK$9.08bn (US$1.16bn) from a Hong Kong listing, according to people close to the deal.
Four lenders have clubbed a unitranche loan of around A$1.125bn (US$808m) for the leveraged buyout of Australian education provider Navitas, in what is the largest such financing from Asia.
Ten months after regulations were put in place, a Chinese company has filed for the first time to issue Chinese depositary receipts.
Hextar Holdings has raised M$121m (US$29m) through the sale of 155m shares in Malaysia’s Halex Holdings at a fixed price of M$0.78, people with knowledge of the transaction said.
Indian solar engineering procurement and construction company Sterling and Wilson has started investor education for an IPO of up to Rs45bn (US$646m), according to a term-sheet.