Asia Pacific

China’s auto ABS market is heating up after a third deal was announced within a week. Mercedes-Benz Auto Finance’s Silver Arrow China 2017-1 is the latest, featuring two hard credit enhancements and a liquidity support of a general reserve amount.

Eight lenders will arrange a $750m five year borrowing for an entity in the Vedanta Group, in a deal that has been in discussion since January.

UBS has appointed May Yan as a managing director to lead its equity research coverage of Greater China financials, according to a memo seen by GlobalCapital Asia.

Singapore’s green bond market officially opened last week, with CDL Properties pricing a S$100m ($71.3m) two year, raising hopes that more issuers from the country will follow suit. But Singapore needs to encourage them.

Aditya Birla Group unit Novelis wound up a $1.8bn Asian refinancing of its US term loan B at the end of March, with eight banks joining during general syndication.

Foreign investors looking for opportunities in China will now have seven new free trade zones to choose from, following a low-key launch on March 31. While the impact of the individual zones will take time to evaluate, some argue the new FTZs could address China’s capital outflow problems.

Bank of China, CCB Life Insurance and Citic Securities kicked off investor meetings and calls this week, in pursuit of Reg S deals.

Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the final five questions.

Yida China Holdings, Peking University Founder Group Company, Red Star Macalline Group Corp and HKICIM Group are looking to hit the offshore debt market, mandating banks for their respective Reg S transactions on Monday.

Philippine lender China Banking Corp will offer shares in its Ps15bn ($302m) rights issue at Ps31 apiece, following a sharp rally in its stock price.

Netmarble Games has launched the international roadshow for its planned W2.7tr ($2.4bn) listing that will wrap up in two weeks in the US, drawing demand as it goes for what is set to be South Korea’s largest IPO this year.

The State Administration of Foreign Exchange (Safe) reports rise in foreign reserves, China Insurance Regulatory Commission (CIRC) chief is under investigation over misconduct, and no formal agreement emerges following Xi Jinping’s meeting with Donald Trump.