Asia Pacific

The Hong Kong Monetary Authority (HKMA) has released details of China’s first offshore renminbi auction of the year, following the Ministry of Finance’s announcement earlier this week that it is looking for Rmb14bn ($2.06bn) of CNH treasury bonds, and also planning its first dollar deal in over a decade.

Standard Chartered has hired Clare Francis to be regional head of global banking, Europe. The former Lloyds banker will run its corporate and financial institution business in the region.

Hydropower company China Three Gorges Corp raised €650m from its inaugural offshore green bond, pricing it inside theoretical fair value. The issuer has a natural need for euros, and its deal, unlike most notes sold in the currency by Mainland issuers, was executed in a “European style” due to strong demand, said bankers.

Greenland Holding Group Company is out with a 363 day dollar bond on Thursday, its second outing with a short tenor but its first in the public format.

Citic CLSA chairman Tang Zhenyi is now in charge of investment banking at the Hong Kong-based firm following Andrew Low’s move to Australia, sources with direct knowledge of the matter said.

HNA Group company Hainan Airlines Holding Co rolled out a 364 day bond on Thursday, becoming the second issuer to seek a short-term deal recently. Meanwhile, Chinese oilfield equipment provider Hilong Holding is selling an inaugural three year note.

Onshore and offshore RMB will stay put for the rest of 2017 as China seeks stability ahead of the country’s political transition in the autumn, said Mitul Kotecha, head of Asia FX and rates strategy at Barclays.

The Reserve Bank of Australia gave a rare endorsement by a foreign central bank of China's renminbi internationalisation strategy, acknowledging that RMB activity in the Sydney hub was picking up despite the RMBi agenda suffering a setback globally.

China Three Gorges Corp, the state-owned hydropower company, brought its first euro denominated green bond on Wednesday. The €650m seven year deal came a year after the company issued its first green bond in remnimbi.

Metro Pacific Investments Corp raised Ps12.7bn ($256m) from a selldown in Manila Electric Co (Meralco) on Tuesday that effectively boosted, rather than cut, its stake in the latter.

Malaysia's CIMB has increased the size of its syndicated loan to $500m from $400m, raising the additional amount as a separate facility from banks that joined as mandated lead arrangers during senior syndication.

Guangzhou Rural Commercial Bank Co got its HK$8.06bn ($1.03bn) Hong Kong IPO away on Wednesday, pricing the shares just below the middle of the offered range.