Asia Pacific

Guotai Junan Securities Co has hit the road with its HK$16.5bn ($2.1bn) IPO, set to be the largest listing in Hong Kong since Postal Savings Bank of China’s mammoth HK$58bn float last year.

Chinese issuers Fujian Yango Group and Tewoo Group Co, alongside Fullerton Healthcare Corp from Singapore, are wooing investors for their respective dollar bonds with roadshows set to take place this week.

KEB Hana Bank and Huantaihu International Investment Co ventured out to the dollar debt market on Monday morning, as 10 year US treasury yields slid to 2.37%.

JP Morgan’s head of ECM for Asia ex-Japan David Suen has left after close to a decade with the US bank, according to an internal memo seen by GlobalCapital Asia.

Russia’s renminbi ambitions got a big boost from the appointment of a clearing bank in September 2016 and the first Panda bond by a Russian corporate earlier this month. In a Q&A with GlobalRMB, the Central Bank of Russia says that all the technical preparations are complete for the Finance Ministry to issue its first RMB bond in Moscow — which would inaugurate a new market for so-called ‘Baikal’ bonds.

People’s Bank of China (PBoC) governor claims the end of quantitative easing is near, transaction volume in Chinese foreign exchange market was close to Rmb20tr ($2.9tr) in the first two months of 2017, and Hong Kong Stock Exchange (HKEX) plans to launch five-year Chinese treasury futures.

This week, the head of the state administration of foreign exchange (Safe) criticised Chinese companies’ overseas acquisition choices, 13 countries joined Asian Infrastructure Investment Bank (AIIB) and ICBC Moscow started offering RMB clearing services.

Yes Bank has bagged Rp49bn ($748.6m) from a qualified institutional placement after boosting the deal size on bumper long-only demand, and pricing at the top of guidance.

Emperor International Holdings, Xinjiang Guanghui Industry Investment (Group) Co and Zhuhai Huafa Group Co sealed new dollar deals on Thursday, going into their respective transactions with books fully covered.

Japfa Comfeed Indonesia sealed a $150m bond on Thursday, exceeding both its pricing and size targets, as an improved credit profile and a conducive market backdrop contributed to the deal’s success.

Commodities trader Trafigura has signed its latest 364-day syndicated revolver at $2.27bn, up from the launch size of $1.5bn.

In its latest consultation on A-shares, MSCI has overhauled its plans with a proposal that would see Mainland stocks make up just 0.5% of its Emerging Market index. While the new scheme increases the chance of A-share inclusion, it could be too little and too late for investors.