Macau SAR
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Bank of China's Macau branch has raised a modest amount from a swift floating rate transaction to give investors comfort about the bond’s secondary performance. -
Macau’s casino operator MGM China and subsidiary MGM Grand Paradise have amended and extended credit facilities signed in 2012 for the second time.
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Deutsche Bank has appointed Beng-Hong Lee to the newly created position of head of institutional client group for China.
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Citi has appointed one of its most senior bankers Angel Ng as head of Hong Kong and Macau, according to a press release on Friday.
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China’s Bank of Communications is eyeing a club-style loan to raise up to $500m through its Macau branch, tapping one firm as the sole lead of the fundraising.
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Weber Lo, country officer and chief executive of Hong Kong and Macau at Citi, has resigned from the bank effective May 1, according to an internal memo and confirmed by a bank spokesperson.
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Bank of China Macau has approached lenders for a financing of up to $500m, with details about the loan going to a limited number of banks, said sources.
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Fitch upgraded Macau’s long term foreign currency issuer rating to AA from AA- on Tuesday on the back of strengthened financials, but the boost is unlikely to spur more bond issuance from the region, said bankers.
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The People’s Bank of China announces new rules to promote cross-border RMB transactions, HSBC plans to launch a new service in Poland to capture business opportunities related to the Belt and Road Initiative, and Agricultural Bank of China obtained approvals for new branches in Southeast Asia.
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Three Asian issuers, China Fortune Land Development Co, Luso International Banking and Shandong Hi-Speed Group Co, sold their inaugural bonds on Thursday, taking home $1.15bn between them.
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Macau’s Luso International Banking, a subsidiary of Xiamen International Bank Co, began marketing a subordinated dollar bond on Thursday morning.
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Luso International Banking, a subsidiary of Xiamen International Bank Co, will meet fixed income investors this week for a subordinated dollar bond.
