Taiwan

HCP Global has distributed its $540m facility among 17 banks, with mostly Taiwanese lenders receiving an allocation.

Taiwan-listed GlobalWafers Co is selling Global Depositary Shares (GDSs) worth up to $440m, the first time it is tapping equity investors after acquiring SunEdison Semiconductor.

Taiwanese semiconductor company GlobalWafers Co has wrapped up a $350m dual tranche acquisition financing with a group of local lenders. The same banks have also provided $200m to refinance the debt of the target company SunEdison.

In this round-up, Hong Kong’s RMB deposits dropped to a near six-year low, the Mutual Recognition of Funds scheme saw meagre flows to Mainland and Hong Kong funds, and the Stock Connect had a surge in net purchases in February. Plus, a recap of our stories this week.

In this round-up, the offshore RMB (CNH) nearly eliminates its spread with the onshore RMB, a Standard Chartered index on RMB internationalisation ends 2016 poorly, and the Hong Kong Exchange (HKEX) sees new records set in RMB futures contracts in January. Plus, a recap of our stories.

Vodafone has hired banks to arrange a 30 year US dollar Formosa bond, as corporate issuers get stuck into a market that has been teeming with bank trades this year.

Nanya Technology Corp got the convertible bond market in Asia off to a fabulous start this week, with demand far exceeding supply on its $500m return to equity-linked.

Taiwan-listed Nanya Technology Corp is in the market for a $500m zero coupon convertible bond, launching the trade on Tuesday evening.

Citi has appointed Paulus Mok, a 22-year veteran of the US bank, as its country officer for Taiwan.

A jump in the cost of dollar funds at Taiwanese banks is causing concern in the syndications market even as the overall direction of loan pricing remains firmly downward. Bankers in Taipei said the situation could ease by the end of the first quarter but until then, they face the hard choice of settling for lower returns or seeing their loan books stagnate. Shruti Chaturvedi reports.

All eyes will be on the renminbi this week with the dollar fix edging closer to 7, despite a slight reprieve on Monday. Meanwhile, Shenzhen Connect fails to click with Korean investors, while CNH deposits are starting to recover in the country.

Faced with a low margin environment and intense competition at home, Taiwanese banks have been looking outward for growth. But as they diversify away from China due to regulatory and political pressure, lenders from the island nation face new challenges on due diligence. Shruti Chaturvedi reports.