Asia Pacific

The Hong Kong Exchange is set to introduce five year China Ministry of Finance Treasury bond futures.

Investment grade Chinese issuers are lowering their costs of funding in the euro bond market as the region’s liquidity improves, while the door also remains open to high yield issuers with operations in Europe, according to panellists speaking at the China DCM summit in Beijing last Thursday.

Allocations have emerged for a $1.75bn multi-tranche borrowing by Indian conglomerate Reliance Industries, with retail liquidity ending up concentrated on a longer dated portion.

Housing Development Finance Corp (HDFC) sealed the year’s first offshore rupee-denominated bond and the largest so far from an Indian name, pricing the Rp33bn ($504m) notes tighter than its onshore curve, said bankers.

South Korean Hanjin Group’s low cost carrier Jin Air Co has sent out a request for proposals for an IPO, according to a banker close to the situation.

Shenzhen-listed Zhejiang Dahua Technology Co, with a market value of some $7bn, is planning to list in Hong Kong.

Property developer China Evergrande Group sold another $1bn bond last Friday, hitting the market just a week after a bigger $1.5bn outing.

Cochin Shipyard has submitted a draft prospectus with India’s market regulator for approval for its IPO, hiring three firms to run its deal.

Renminbi denominated gold futures contracts will be available on Hong Kong Stock Exchange (HKEX) for the first time in June 2017, Charles Li, the bourse’s CEO, said on Monday. Li also signalled that more Connect schemes will emerge after Bond Connect, and that southbound volumes have plenty of room to grow.

High-end solar panel maker REC Solar has approached lenders in Asia for the first time, as it looks to raise up to $330m.

China Renaissance Group and ICBC International Holdings this week unveiled a partnership to provide financial services across mainland China, Hong Kong and the US.

General Insurance Corp of India (GIC Re) has started inviting banks to pitch for a role in its IPO, making it the first state-owned insurer to issue a request for proposals.