Asean

In this round-up, Macau RMB deposits and cross-border RMB trade settlement fall in February, ICBC launches RMB clearing in Thailand, the Shanghai FTZ expands four-fold, and Kenya hopes to become the RMB hub in Africa.

In this round-up, Malaysia and China renew their bilateral swap agreement, Thailand launches RMB clearing services, and the Silk Road Fund makes its first investment into Pakistan.

In this round up, China cross-border RMB trade settlement hits new historical record in March, Hong Kong sees a 31% increase in RMB clearing in the same month, the Moscow Exchange sees record RMB/RUB FX swaps turnover, CCB is launching new subsidiaries in five overseas markets, and RMB clearing officially launches in Malaysia and Qatar.

As the first Thai bank enters the offshore RMB bond market, Thai regulators are keen to attract Chinese corporates to its capital markets.

TMB Bank priced the first dim sum bond out of Thailand on March 2, raising Rmb600m ($97m) with a three year offering.

The People's Bank of China (PBoC) announced on January 6 that it had approved Industrial and Commercial Bank of China (Thailand) to be the official renminbi clearing bank in Bangkok. The selection is the second in 2015, coming just one day after Bank of China (Malaysia) was awarded the same role in Kuala Lumpur, and adds a new hub to the global RMB map.

Poultry feed producer Charoen Pokphand (CP) Indonesia’s $350m dual currency loan, which comes with a $50m greenshoe, has entered general syndication.

United Overseas Bank this week priced Asia’s first tier one Basel III-compliant bonds, getting an S$850m ($670.9m) perpetual non-call five deal away at just 4.9% — a level that even rival bankers grudgingly admitted was tighter than they had expected, writes Frances Yoon.