Tag: america

Yes Bank raises $225 million and truck financing company Shriram Transport issues $125 million worth of new shares just before equity markets take another dip. The Chinese producer of coking coal achieves a coupon of only 1.5%, but offers investors a back-ended yield-to-put of 3.5%. The aluminium giant seeks to raise at least $1.89 billion and to become the first Russian company to list in Hong Kong. Investors flock to the deal believing it is a precursor to asset injections from controlling shareholder PetroChina. The deal prices significantly inside fellow Chinese property developer Country Garden, which reopened the high-yield market with a $300 million deal in September. State-owned Korea National Housing Corporation is the latest, but not the last, Korean borrower to tap the US dollar market this year and achieves the lowest yield spread so far. Yet another Japanese mega-bank succeeds in raising capital, despite a bumpy ride. Bank of America picks new Taiwan CEO. A $3 billion investment by Bank of America in CCB may lift sentiment, but does not solve its IPO dilemma say China watchers. JPMorgan''s former co-head of Asian DCM finds a new home. Hideaki Miyato and Mitusaki Yamazaki take on newly created role. The bank''s global treasury division makes two new hires in China as part of a plan to double personnel numbers on the mainland by mid-2004. The US bank will process trade transactions through the new hub. Some job losses in Hong Kong and Singapore. Regional president Colm McCarthy gets expanded role. Naser Jaafar promoted to Malaysian country head. Bank of America has announced the appointment of financial institutions specialist Helen Pun. Abidin Siregar is named as the bank''s new head of global markets, Hong Kong. A resurgent Bank of America announces key personnel additions to its derivatives and FX teams. The book is worth reading for its anecdotes, its interviews and the data it provides. Bank of America will shut its Asian investment banking operation in the next 60 days.