Edition:
United Kingdom

Umesh Desai

India's record share sales bring banks little cheer in the way of fees

22 Dec 2017

MUMBAI/HONG KONG Funds raised in India through share sales reached the most in a decade this year thanks to booming stock markets, but the rush to raise capital while investor sentiment remained bullish pushed dealmakers' fee ratio to multi-year lows.

Lexinfintech slashes U.S. IPO size as China reins in micro-lenders

14 Dec 2017

HONG KONG Chinese consumer lending firm Lexinfintech has slashed the size of its U.S. initial public offering by two-thirds to a maximum possible $151.8 million, following a recent crackdown by Beijing on fast-growing online micro-lenders.

Lexinfintech slashes U.S. IPO size as China reins in micro-lenders

14 Dec 2017

HONG KONG Chinese consumer lending firm Lexinfintech has slashed the size of its U.S. initial public offering by two-thirds to a maximum possible $151.8 million, following a recent crackdown by Beijing on fast-growing online micro-lenders.

Alibaba's jumbo bond deal sets sector benchmark in Asia

30 Nov 2017

HONG KONG Alibaba Group Holding Ltd's newly minted bonds rallied on Thursday after the Chinese internet firm's $7 billion multi-tranche sale attracted a blow-out response and set a precedent for rival companies to follow, analysts said.

HNA Group's credit assessment rating lowered by S&P on tightening liquidity

29 Nov 2017

HONG KONG Indebted Chinese airline to property conglomerate HNA Group [HNAIRC.UL] has had the assessment of its creditworthiness by S&P Global Ratings downgraded as a result of its "aggressive financial policy" and tightening liquidity amid looming debt maturities.

Australian manager Tanarra launches credit fund as banks retreat

24 Nov 2017

SYDNEY/HONG KONG, Nov 24 Australian investment manager Tanarra Credit Partners has entered into the private debt market with an A$285 million ($217.17 million) fund that will lend to non-investment grade borrowers, filling a void left by retreating banks in the Asia-Pacific region.

HNA's offshore unit nears liquidity crunch

23 Nov 2017

HONG KONG, Nov 23 The short-term debts of HNA Group's main offshore fundraising arm are close to outstripping its ability to meet them, according to figures provided in documents for the acquisitive Chinese conglomerate's most recent bond deal, where the unit paid almost 9 percent for a one-year loan.

Chongqing Steel creditors agree to debt-for-equity swap: sources

17 Nov 2017

SHANGHAI/HONG KONG Creditors of Chongqing Iron & Steel Co have voted to accept a debt-for-equity swap plan to restructure nearly 40 billion yuan ($6.04 billion) in debts, sources with knowledge of the matter told Reuters on Friday, giving the state-owned enterprise some reprieve as debt-servicing costs rise.

'It does not get much better than this' for markets: AIA

16 Nov 2017

HONG KONG Synchronized global growth and the likely slow path that the U.S. Federal Reserve will take in raising interest rates and trimming its balance sheet means the market environment "does not get much better than this," the CIO of insurer AIA Group said.

Natixis plans to double Asia Pacific assets to $100 billion in three years

15 Nov 2017

HONG KONG Natixis Global Asset Management, a unit of French bank Natixis SA , aims to double its funds under management to $100 billion in the Asia Pacific region over the next three years, using a combination of organic and inorganic growth strategies.

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