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  • The Reserve Bank of India's decision to allow Foreign Institutional Investors (FIIs) to invest in credit default swaps (CDS) related to their underlying exposure in credit securities has been welcomed.
  • European Parliament's proposed ban on naked short selling of credit default swaps (CDS) may affect the reliability of pricing and could even reduce attractiveness of the product as a whole.
  • A small Argentinian property company has issued high yield despite its size and developers' typically unsteady cash flows
  • Advisors need to better manage the nervousness company boards feel towards litigation and disclosure involved in take private transactions.
  • The Securities and Futures Commission's (SFC) efforts to regulate the market is being challenged in the courts, IFLR can reveal.
  • Project bonds are back. Banks facing new capital requirements have cut long-lending programmes – never their most profitable – and China's demand for resources has outstripped multilaterals' funds. Project sponsors are now turning to the capital markets, and in many ways they've found their perfect fit. Bondholders can get their predictable annuity locked in, and developers their long-term funds.
  • China's unwanted baggage Chinese companies need to give serious thought to the impact of increased protectionism in western economies if they are to successfully prosecute merger and acquisition deals in the region.
  • Workflow is evaporating Chinese private equity deals have been branded a major challenge by lawyers in Hong Kong.
  • Interest in Shanghai's recently launched private equity pilot program involving Qualified Foreign Limited Partners (QFLP) may not be as strong as originally expected.
  • More communication means less pressure Communication between in-house and external counsel is vital to avoid deal balkanisation.