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Monday, 23 July 2018

Daniel Stanton' s stories

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  • First project loan CLO hits Asia

    First project loan CLO hits Asia

    Top News | 20 July 2018

    Singapore’s Clifford Capital last week began marketing a groundbreaking securitisation of project finance loans, which aims to free up capital for banks and give institutional investors access to a new asset class.

  • A man walks outside a commercial building at the financial Central district in Hong Kong, China.

    Asia bond buyers play hardball

    Top News | 20 July 2018

    Some asset managers have resorted to a new trick to win concessions in Asia’s ailing US dollar bond market: holding new issues to ransom.

  • Workers sort a newly woven party flag ahead of the founding anniversary of Chinese Communist Party, at a workshop in Hangzhou, Zhejiang province, China.

    Foreign funds cool on Malaysia

    Top News | 29 June 2018

    Foreign investors are pulling out funds from Malaysia and hedging against widening credit spreads, with uncertainty over government policies driving sovereign credit default swaps to a one-year high.

  • China Huarong Asset Management

    China Huarong offshore return shows floater appeal

    Ticker | 27 June 2018

    China Huarong Asset Management, rated A3/A–/A, showed demand continues to be strong for floating-rate paper, as it priced a US$1.1bn triple-tranche US dollar senior unsecured bond offering.

  • The company logo of Noble Group is displayed at its office in Hong Kong, China.

    Noble digs deep to build support

    People & Markets | 22 June 2018

    Noble Group twice made concessions to groups of investors last week as it sought to broaden support for its restructuring plan, but it was forced to dip into its sparse cash reserves and add debt in the process.

  • Noble Group logo

    Goldilocks agrees to back sweetened Noble restructuring plan

    Ticker | 20 June 2018

    Noble Group has won the support of activist investor Goldilocks Investment for a revised restructuring plan, under which the struggling commodities trader will pay around US$10m to Goldilocks and one its affiliates.

  • South Korean President Moon Jae-in bids fairwell to North Korean leader Kim Jong Un as he leaves after their summit at the truce village of Panmunjom, North Korea.

    Markets weigh Korean peace dividend

    Top News | 08 June 2018

    There are emerging markets, frontier markets, and there is North Korea.

  • Astrea IV opens up ABS to retail

    Structured Finance | 08 June 2018

    A unit of Temasek Holdings has priced Singapore’s first offering of asset-backed securities to include a retail investor component.

  • Temasek unit to offer retail ABS

    Structured Finance | 25 May 2018

    Temasek Holdings will give the Singaporean public the chance to invest in some of its private equity investments through a structured finance deal that has been 12 years in the making.

  • Malaysia's Finance Minister Lim Guan Eng speaks during a news conference in Putrajaya, Malaysia.

    Malaysia swallows bitter 1MDB pill

    Top News | 25 May 2018

    The new Malaysian government has agreed to honour the obligations of scandal-hit state investment vehicle 1Malaysia Development.

  • 1Malaysia Development Berhad (1MDB) billboard

    Malaysia says MoF serviced 1MDB debt

    Ticker | 23 May 2018

    Malaysia’s new Finance Minister said the country’s Ministry of Finance had been servicing 1Malaysia Development’s debt obligations since April 2017, and called for a closer look at its debt pile.

  • PLN sidesteps US Treasury spike

    Emerging Markets | 18 May 2018

    Indonesian power utility Perusahaan Listrik Negara, rated Baa2/BB/BBB, sold two long-dated tranches of US dollar bonds on Tuesday, even though the 10-year Treasury yield hit a seven-year high during bookbuilding.

  • Standard Chartered Bank headquartersin Hong Kong

    MOVES-StanChart's Asia bond syndicate head Li Chao resigns

    Ticker | 17 May 2018

    Li Chao, head of Asia bond syndicate at Standard Chartered Bank (Hong Kong) has resigned to join a competitor.

  • A car entering the headquarters of Korea Development Bank is reflected in a KDB logo

    KDB Life prints first Korean high-yield hybrid

    Ticker | 15 May 2018

    KDB Life Insurance priced a US$200m hybrid at par to yield 7.5%, unchanged from initial guidance of 7.5% area, becoming the first Korean issuer to sell such instruments with a high-yield rating.

  • Security stands guard in front of NagaWorld casino in central Phnom Penh.

    Nagacorp opens new frontier for Asian bonds

    Ticker | 15 May 2018

    Nagacorp, which owns and operates the only integrated casino and hotel resort in Phnom Penh, has become the first Cambodian issuer of offshore bonds, overcoming a weak Asian high-yield market.

  • Vulnerable Indonesia hopes for Samurai return

    Emerging Markets | 11 May 2018

    The Republic of Indonesia has conducted meetings in April ahead of a possible return to the Samurai bond market, two sources said, just as global investors have cooled on Indonesian bonds in other currencies.

  • Mahathir Mohamad reacts during a news conference after general election

    Malaysia's election upset sends shockwaves through bond market

    Ticker | 10 May 2018

    Malaysian bonds tumbled this morning after a surprise win for the opposition unseated a government that has held power for more than six decades.

  • Nagacorp set for Cambodian debut

    Emerging Markets | 04 May 2018

    Nagacorp, which owns and operates the only integrated casino and hotel resort in Phnom Penh, is planning to become the first Cambodian issuer to sell offshore bonds.

  • Lippo Karawaci faces cash crunch

    Emerging Markets | 04 May 2018

    Indonesian property developer Lippo Karawaci faces a cash crunch after breaching a covenant in its dollar bonds, and might need to turn to one of its Singapore-listed REIT holdings to help raise funds.

  • Zurich eyes Australian dollar debut

    Bonds | 04 May 2018

    Zurich Insurance is preparing for a potential debut in the Australian bond market after announcing about A$4bn (US$3bn) of acquisitions in the country in the past two years.

  • An Army soldier parachutes near a giant national flag during the Army's exhibition at Monas Park in Jakarta.

    Lippo Karawaci faces liquidity crunch

    Ticker | 03 May 2018

    Indonesian property developer Lippo Karawaci faces a cash crunch after breaching a covenant in its dollar bonds, and might need to turn to one of its Singapore-listed REIT holdings to help raise funds.

  • A logo of Huawei is seen during the Mobile World Congress in Barcelona, Spain.

    Iran probe scuppers Huawei's euro debut

    Top News | 27 April 2018

    Chinese technology company Huawei Investment & Holding called off its first euro-denominated bond issue late on Wednesday following reports of a US investigation into its dealings with Iran.

  • Noble faces Goldilocks injunctions

    Bonds | 27 April 2018

    Noble Group warned that legal action by shareholder Goldilocks Investment (GICL) was pushing the company “ever closer” to insolvency, after the Abu Dhabi-based investor filed injunctions against it.

  • Huawei

    Iran probe scuppers Huawei's first euro bond

    Ticker | 26 April 2018

    Chinese technology company Huawei Investment & Holding called off its first euro-denominated bond issue late on Wednesday following reports of a US investigation into its dealings with Iran.

  • Smooth landing for Australian credits

    Bonds | 20 April 2018

    Sydney Airport stood out in a flurry of Australian issuers in the euro market last week as it managed to print €500m of 10-year bonds with zero new-issue premium.

  • Project bond gets Star billing

    Emerging Markets | 20 April 2018

    Star Energy Geothermal (Wayang Windu) ended a two-month lull in the Indonesian high-yield market last week with a project-related Green bond that enjoyed strong demand from US investors.

  • Noble Group founder and Chairman Richard Elman poses at his office in Hong Kong, China.

    Noble Group makes concession to shareholders as Elman returns

    Ticker | 16 April 2018

    Noble Group has conceded some ground to shareholders in its restructuring by agreeing to give them more shares in its new entity than originally proposed.

  • Oaktree eyes China, India bank clean-ups

    People & Markets | 13 April 2018

    Oaktree Capital, often described as the world’s largest distressed debt investor, is setting its sights on China and India as it looks to expand its investments in Asia.

  • Sri Lanka beats negative backdrop

    Emerging Markets | 13 April 2018

    The Democratic Socialistic Republic of Sri Lanka sailed through the bond market last Wednesday, despite a volatile trading session and recent turbulence at home, drawing orders of US$6.5bn for a US$2.5bn two-tranche issue, its largest dollar offering on record.

  • John Cryan

    MOVES-Sewing replaces Cryan as Deutsche CEO, Schenck to leave

    Ticker | 09 April 2018

    Deutsche Bank has appointed Christian Sewing CEO with immediate effect to replace John Cryan, who leaves at the end of this month.

  • Asian G3 volume shrinks on volatility

    Emerging Markets | 06 April 2018

    Asian G3 bond volumes decelerated in the first quarter from last year’s record pace, as surging US interest rates sparked volatility.

  • A DBS booth is seen at the Singapore Fintech Festival in Singapore.

    DBS sets benchmark for euro T2

    Emerging Markets | 06 April 2018

    DBS Group Holdings has become the first bank from Singapore to sell Tier 2 euro-denominated notes, achieving a sizable print despite the recent indigestion in that market.

  • DBS Bank logo

    DBS sets Singapore benchmark for euro T2

    Ticker | 05 April 2018

    DBS Group Holdings became the first Singapore bank to sell Tier 2 euro-denominated notes, achieving a sizable print despite the recent indigestion in that market.

  • Singapore Stock Exchange (SGX) logo

    MOVES-Leahy joins SGX as head of fixed income

    Ticker | 04 April 2018

    Singapore Exchange has named industry veteran Mark Leahy as head of fixed income, responsible for executing strategy for its bond-trading business, SGX Bond Pro, as well as attracting bond listings to the exchange.

  • Noble Group CEO Richard Elman listens during an interview in Hong Kong.

    Singapore questions Noble workout plan

    People & Markets | 29 March 2018

    The Singapore Exchange has questioned whether the proposed restructuring of Noble Group is a “fait accompli”, since much of it could go ahead even if shareholders opposed a core part of the scheme.

  • Daimler's Chief Executive Dieter Zetsche attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China.

    Issuers target Dim Sum savings

    Top News | 29 March 2018

    Two past Panda bond issuers tapped the offshore renminbi market for the first time last week, adding to a growing list of borrowers who have been drawn to the Dim Sum market by attractive pricing.

  • Tenors diverge in Asian credit

    Emerging Markets | 23 March 2018

    Asia’s investment-grade borrowers are selling longer-dated bonds while their high-yield peers issue shorter maturities, as rising rates pull issuers and investors in opposite directions.

  • Noble defaults, faces lawsuits

    People & Markets | 23 March 2018

    Noble Group missed a bond redemption last week and was hit by two lawsuits, as it continued to work to restructure its debt.

  • Noble Group logo

    Shareholder Goldilocks files lawsuit against Noble Group

    Ticker | 21 March 2018

    Shareholder Goldilocks Investment has filed a lawsuit against Noble Group and certain of its executives, including founder Richard Elman and chairman Paul Brough, alleging that the past and present executives breached their fiduciary duties.

  • Noble sweetens workout offer

    Emerging Markets | 16 March 2018

    Struggling commodities trader Noble Group has moved closer to restructuring its liabilities with the signing of an agreement with holders of around half its senior debt, having improved the terms for some stakeholders.

  • Tan takes JP Morgan DCM role as Follett moves up

    People & Markets | 16 March 2018

    Mark Follett has left his post of head of debt capital markets origination, Asia ex-Japan, at JP Morgan to take up a newly created role at the bank focusing on jumbo transactions.

  • Noble Group logo

    Noble misses coupon payment on 2022 notes

    Ticker | 12 March 2018

    Noble Group said it had missed a coupon payment due on March 9 on its US$750m 8.75% 2022 notes.

  • JP Morgan

    MOVES-Tan named AEJ DCM origination head at JPM as Follett moves up

    Ticker | 12 March 2018

    Mark Follett has left his post of head of debt capital markets origination, Asia ex-Japan, at JP Morgan to take up a newly created role at the bank focusing on jumbo transactions.

  • Singapore: Lion City sets offshore benchmark

    Emerging Markets | 02 March 2018

    Clifford Capital priced a government-guaranteed bond last week, giving offshore investors rare exposure to Singapore sovereign risk and setting a new benchmark ahead of an anticipated wave of infrastructure-related issuance.

  • A man looks out at a cluster of private residential condominiums in Singapore

    Clifford Capital sets new Singapore benchmark

    Ticker | 01 March 2018

    Clifford Capital priced a US$300m 10-year senior bond offering with a guarantee from the government of Singapore, giving offshore investors rare exposure to Singapore sovereign risk and setting a new benchmark.

  • HNA downgrades mount as managers pledge support

    Emerging Markets | 16 February 2018

    HNA Group said on February 14 that some of its directors and top executives had purchased offshore US dollar bonds guaranteed by the company, as it continues to try to reassure investors about its stretched finances.

  • India redraws debt workout rules

    People & Markets | 16 February 2018

    India’s central bank has torn up its rule book on debt restructurings in favour of a standardised approach that gives major defaulters just six months to agree terms with their bank creditors.

  • Volatility sidelines Asian issuers

    Emerging Markets | 09 February 2018

    Global volatility meant only a handful of Asian issuers dared brave the offshore bond market last week, and those that did had to pay up.

  • Singapore says more covered bonds, please!

    People & Markets | 09 February 2018

    Singapore’s major banks have repeated calls for a relaxation of the cap on covered bond issuance to promote the development of a local market for senior secured bonds.

  • Singapore

    Singapore banks call for easing of covered bond limits

    Ticker | 06 February 2018

    Singapore’s major banks have repeated calls for the regulator to raise the amount of covered bonds they can issue, speaking on Tuesday at the Euromoney/European Covered Bond Council Asian Covered Bond Forum in Singapore.

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