Asean

The People’s Bank of China announces new rules to promote cross-border RMB transactions, HSBC plans to launch a new service in Poland to capture business opportunities related to the Belt and Road Initiative, and Agricultural Bank of China obtained approvals for new branches in Southeast Asia.

China has relaxed access to the onshore renminbi (CNY) foreign exchange market for overseas banks based in Cambodia, Kazakhstan, Mongolia and Thailand, all countries that fall under the Belt and Road initiative, GlobalRMB has learned.

Chinese regulators have given their blessing to Global Logistics Properties (GLP) returning to the Panda market. The company is putting a Belt and Road spin to the issuance programme, even though proceeds are going towards a recent acquisition in Western Europe.

Binh Son Refining and Petrochemical Co is preparing to launch an IPO of at least D3.5tr ($154.3m) later this month.

Philippine company International Container Terminal Services (ICTSI) will meet investors in Asia and Europe next week for a senior guaranteed perpetual bond.

Malaysia’s S P Setia will hit the road soon to market a MR1.2bn ($300.5m) placement to institutional investors, said a banker involved in the transaction.

The owner of Indonesia’s Pizza Hut franchise has hired three banks as lead underwriters on an IPO slated for this year, said sources close to the matter.

Thai Beverage Public Co has enlisted the help of three banks for a 12-month bridge facility to support its acquisition of a stake in Vietnamese brewer Saigon Beer Alcohol Beverage Corp (Sabeco), said sources close to the trade.

International Finance Corp has joined forces with Goldman Sachs to extend a $110m syndicated loan to Vietnam’s An Binh Commercial Joint Stock Bank, a portion of which will be used to provide loans to women-owned enterprises in the country.

The Securities Commission (SC) of Malaysia announced new guidelines for sustainable and responsible investment funds on Tuesday.

Asia’s green financing market has made great strides since issuance started to pick up two years ago, with 2017 seeing more regulators and issuers giving the asset class a push. But for all its impressive feats, the region’s green market is yet to come of age.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is understood to be lining up a $150m-$200m borrowing in the international syndicated loan market.