Asia Pacific

HSBC has received approval from China Securities Regulatory Commission to set up a majority-owned joint venture securities company — HSBC Qianhai Securities — in the Mainland. The regulatory clearance comes about a year-and-a-half after the UK lender announced the JV.

Chinese commercial lender Zhongyuan Bank has opened the books on its HK$8.34bn ($1.1bn) IPO after securing commitments from three cornerstone investors for about half the deal.

Inner Mongolia Energy Engineering Co plans to launch bookbuilding for its Hong Kong IPO on Monday, and could bag up to HK$1.23bn ($157.6m).

Global gaming company Razer is planning to list in Hong Kong, and has filed a draft prospectus with the city’s stock exchange.

Modern Land (China) Co grabbed $130m from its green bond on Thursday, but the pricing of the notes did not move throughout bookbuilding as investors were less than impressed with the high yield credit.

Mizuho has lost a banker in its syndicated loans department in Hong Kong, according to two sources.

The Monetary Authority of Singapore aims to entice borrowers to sell rated notes in the country’s bond market by offering a credit rating grant.

Foreign institutional investors can settle their trades on a T+2 basis in China’s interbank bond market (CIBM), according to a June 29 announcement. The move will boost international investors’ confidence in accessing the Mainland fixed income market, according to participants.

Standard Chartered has appointed Lyndon Hsu as global head of leveraged and structured solutions, based in Singapore.

Chinese company Avic International Leasing has increased the size of its latest syndicated loan to $200m from $150m.

The drive to get companies to face up to the risk of climate change is gathering momentum. Firms with a combined market capitalisation of about $3.5tr have committed to support the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), which published its final report on Thursday.

The Asian Infrastructure Investment Bank (AIIB) came closer to making its debut as a borrower in the international bond markets on Thursday when it received its first triple-A credit rating. As its treasurer, Søren Elbech, approaches the day when the AIIB awards its first mandate, the borrower's plans for its funding mix, staffing and debut deal are taking shape.