Taiwan

StanChart hires for ASEAN M&A — ANZ adds to Taiwan team — ING names Apac chief economist — Bond Connect expected on July 3

Export-Import Bank of Korea (Kexim) brought the latest batch of dollar Formosa bonds from South Korea on Tuesday, selling a $400m five year floating rate note in a well-received deal.

ANZ has hired Sonny Lin as the new head of markets for Taiwan, poaching him from Standard Chartered.

The Export-Import Bank of Korea returned to DCM on Tuesday for a floating rate dollar Formosa deal, a few weeks after Kookmin Bank broke open the market for a new batch of issuers from the country.

Panama severed diplomatic ties with Taiwan this week in favour of supporting China, leaving syndicated loans bankers in Taiwan divided about how the move will affect their business, as several Panamanian institutions have tapped Taiwanese bank liquidity for funds in the past. Shruti Chaturvedi reports.

Kookmin Bank became the first commercial lender from South Korea to sell a dollar bond into Taiwan last week, to a rousing reception from investors. The Formosa dollar debt market has remained largely untapped by Asian borrowers this year — but it is a fundraising avenue worth considering.

Kookmin Bank has become the first South Korean commercial lender to sell a dollar bond in the Taiwanese market, and it did it with style, finding more than enough demand to boost its deal size.

South Korea’s Kookmin Bank is marketing a new five year floating rate dollar transaction, set to be listed in both Taipei and Singapore.

Four Taiwanese banks have sold green bonds, reopening the island nation’s market after a debut deal in 2014.

Sumitomo Mitsui Financial Group and Bank of Taiwan have inked a memorandum of understanding to collaborate on asset finance, and to provide support to Taiwanese companies operating in ASEAN.

The potential sale of Toshiba’s multibillion dollar flash memory arm is drumming up interest among banks that are looking for opportunities to finance the bidders. Depending on the outcome of the sale, the transaction could result in big business for European, Taiwanese and Japanese lenders, said market observers. Shruti Chaturvedi reports.

Taiwanese semiconductor manufacturer GlobalWafers Co has raised $469.2m from a sale of Global Depository Shares, which it plans to to use for repaying loans from its acquisition of SunEdison Semiconductor in 2016.