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Saturday, 21 October 2017

Top News

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  • China Property

    Future Land revamps capital structure

    By Prakash Chakravarti, Carol Zhong, Carol Chan

    Chinese property developer Future Land and its chairman have lined up nearly US$800m of bonds and loans to cancel its Hong Kong listing and shift the group’s main financing platform to Shanghai.

  • Iraq

    Perfect timing for tightly priced Iraq

    Iraq smashed through fair value for its first bond deal in more than a decade as investors cast aside worries about the credit story in order to pick up yield.

  • Logo of the European Banking Authority

    Banks’ MREL reluctance could prove costly

    Banks’ plans to delay issuing costly loss-absorbing debt until at least 2018 could backfire by pushing prices even higher, the European Banking Authority warned last week.

  • Hot coal

    Contura Energy rides coal upswing

    US coal’s steady recovery is exemplified by Contura Energy launching an IPO. Having been pushed to the brink by overcapacity and market share losses to natural gas and alternative energy, the coal mining industry has undertaken a dramatic recapitalisation, frequently with the benefit of bankruptcy.

  • A view of the United States District Court for the Southern District of New York

    Court allows swaps suits to proceed

    A US Federal District Court has given the go-ahead for investors to pursue partial claims against some of Wall Street’s largest banks, over allegations that they conspired to limit competition in the US$368trn over-the-counter interest rate derivatives market.

  • UK and EU flags

    Sovereign trading drifts to the continent

    Credit Agricole is moving its government bond desk to Paris in September, leaving BNP Paribas the only major continental bank to retain London as a sole sovereign bond trading hub and prompting fears that political pressure is being applied on banks to pull business out of the city.

  • Piggy Bank

    Looming maturities threaten Greece's bailout exit

    Greece and its creditors were quick to hail the country’s triumphant return to the sovereign bond market as an important milestone as it prepares for financial independence once its current bailout ends just over a year from now.

  • China Banking Regulatory Commission

    Pressure builds on Chinese borrowers

    By Prakash Chakravarti, Carol Zhong, Yan Jiang, Yan Jiang

    HNA Group, Fosun International, Dalian Wanda Group and other privately owned Chinese companies that have been on a multi-year, loan-fuelled overseas acquisition spree are coming under pressure as increased regulatory scrutiny threatens to cut off bank lending.

  • Rupee

    Asian HY suffers triple whammy

    Three high-yield issuers failed to go ahead with planned bond offerings last week in Asia in a clear sign that investors have become selective amid a spike in low-rated supply.

  • Minsheng’s AMTD targets investment banking

    AMTD unit 'named and shamed'

    The Hong Kong stock exchange has blocked the listing of AMTD Strategic Capital Group, a corporate insurance brokerage backed by Morgan Stanley’s private-equity arm, in a further sign of tighter scrutiny over IPO applications.