Taiwan

Taipei-listed Innolux Corp hit the market on Wednesday with a $300m convertible bond, its debut equity-linked deal.

In this round-up, the Chinese Ministry of Finance (MoF) transferred 10% of its shares in three large commercial banks to the state-owned social security fund, the Shenzhen Stock Exchange is set to welcome a new chairman and the US treasury secretary has denied rumours of inaccurate translation of the phase one trade deal.

MTN bankers are tipping Formosa and senior non-preferred debt for big things in 2020. Both markets, along with MTNs as a whole, have had an underwhelming year as issuance failed to live up to the promise of a busy 2018.

Taiwanese banks are increasingly getting sign-offs for larger commitments for loans from southeast Asia, India and Australia, as well as for lower priced deals and longer tenor transactions from these regions. This is as Taiwan’s lenders continue to step away from Chinese borrowers, writes Pan Yue.

Taiwanese electronic component company Yageo Corp has received a chunky $1.1bn bridge loan to support its acquisition of Kemet Corp, a US-based company in the same industry.

Universal Scientific Industrial (Shanghai), a subsidiary of Taiwan’s Advanced Semiconductor Engineering, has increased its debut offshore borrowing to $420m-equivalent.

A new report claims that Taiwan has over a $100bn of hidden dollar reserves — more than enough for the US Treasury to classify the Asian country a currency manipulator if it wanted to. But given Taiwan’s strained relationship with China, the US might be prepared to look the other way

Chailease International Finance Corp has closed its third offshore loan of the year, finding demand from 17 lenders for a $300m facility.

Malaysia's CIMB Bank used Taiwan’s Formosa market to sell a $680m bond linked to Sustainable Development Goals (SDG), giving the borrower a pricing advantage over the international debt market.

The Export-Import Bank of Korea (Kexim) turned to the Taiwanese market to raise Australian dollars, after finding a receptive audience for the currency.

Universal Scientific Industrial (Shanghai) (USI), a subsidiary of Taiwan’s Advanced Semiconductor Engineering, is making its debut in the offshore market for a $300m-equivalent loan.

In this round-up, US president Donald Trump unexpectedly announced an increase in tariffs on China, the People’s Bank of China (PBoC) bumped up the re-lending quota for smaller banks and Mainland regulators said they are not planning to use the property market as a short-term stimulus.