China Vanke Preps Restructuring Plan in Move Toward Default
China Vanke is preparing a debt restructuring plan at the request of authorities, pushing one of the country’s largest real estate developers closer to default, Bloomberg reported. Vanke was recently asked by authorities to accelerate its overhaul and submit the plan as soon as possible.
Australia’s Cost of Living ‘Getting Crazier’
Research from The Smith Family found nine in 10 families are worried about affording back-to-school essentials as inflation continues to bite, The Guardian reported. The annual survey interviewed more than 1,100 lower-income parents and carers whose children are supported by The Smith Family.
Singapore’s DBS Lays Groundwork for Significant Risk Transfers
DBS Group Holdings is weighing a foray into the market for significant risk transfers (SRTs) as lenders increasingly turn to such deals as a way to drive growth and absorb shocks, Bloomberg reported. Southeast Asia’s largest bank held preliminary talks with funds investing in SRTs, according to people familiar with the matter.
Singapore’s Nasdaq Link Draws Interest But Threshold and Liquidity May Limit Take-Up
A Singaporean initiative to boost the IPO market with a fast-track route to a Nasdaq dual listing has garnered a warm response from potential issuers, though bankers caution thin liquidity and a high valuation requirement could limit take-up, Reuters reported.
India’s Modulus Hires UBS Banker to Run Private Credit Business
India’s Modulus Alternatives Investment Managers hired a veteran banker from UBS Group to lead its private credit business, as demand for talent in the sector heats up, Bloomberg reported. Sandeep Agarwal joined the local private credit firm earlier this year as chief executive officer.