Asia Pacific

The Hong Kong Financial Services Development Council (FSDC) has recommended the city to speed up the implementation of Bond Connect to strengthen its position as a global offshore renminbi hub.

China Grand Automotive Services raised an additional $100m last Friday from a tap of its perpetual non call three notes, to repay debt and for general corporate purposes.

First Capital Securities will acquire JP Morgan’s 33.3% stake in its Chinese joint venture, according to a filing with the Shenzhen Stock Exchange.

Netmarble Games has received the green light to list on the Korea Exchange, paving the way for an estimated W2tr ($1.7bn) IPO next year.

Hebei Yichen Industrial Group Corp priced its Hong Kong IPO at the low end of its marketing range last week, netting HK$673.5m ($86.8m).

Indian conglomerate Reliance Group is the latest to file for an infrastructure investment trust listing, announcing plans to raise Rp30bn ($442m).

All eyes will be on the renminbi this week with the dollar fix edging closer to 7, despite a slight reprieve on Monday. Meanwhile, Shenzhen Connect fails to click with Korean investors, while CNH deposits are starting to recover in the country.

ICE Benchmark Administration, a unit of Intercontinental Exchange, is to assume the secretarial role on the credit derivatives determinations committees previously held by the International Swaps and Derivatives Association.

Indonesian conglomerate Astra International is in the process of putting together a group of lenders to supply its latest $200m loan.

Australian casino tycoon James Packer sold his stake in Melco Crown Entertainment, his Asian joint venture with Hong Kong magnate Stanley Ho, in a $669.9m overnight bookbuild on Thursday.

China Vanke Co bagged $600m on Thursday from its first international bond in more than three years, sneaking into the market the day after the Federal Reserve announced a rate hike.

Xuzhou Hi-Tech Industrial Development Zone State Asset Management Co raised $200m in its inaugural offshore deal, paying up more than expected to appease investors.