Asia Pacific

The renminbi did not have a good October as it was overtaken by the euro as the second most active currency for trade finance, according to Swift’s latest RMB tracker.

Indonesia’s Mega Central Finance and Mega Auto Finance are jointly seeking a $75m fundraising, which opened into general syndication on Tuesday.

Chinese issuers stormed the primary debt market on Wednesday with Export-Import Bank of China, China Aluminum International Engineering Corp (Chalieco) and Changsha Pilot Investment Holdings Co among the borrowers attracting bids.

Tsinghua Unigroup is making its debut in the loan market with a $300m facility, as it looks to build relationships with banks as part of a strategy to expand internationally.

Derivatives exchanges are making a push on natural gas with three new initiatives unveiled, amid expectations that demand to trade such products across global markets is set to grow.

Syndicated loans bankers in Asia had braced themselves for a rough 2016, hurt by clients’ preference for cheaper, local currency options. But as the year wraps up, adversity has pushed loans houses to innovate by finding opportunities outside their comfort zones and tapping into new sources of liquidity.

United Laboratories International Holdings returned to the equity-linked market in style on Monday after a five year absence, raising $130m from a convertible bond.

Free trade zone (FTZ) bonds are finally about to emerge in China, with the Shanghai Municipal Finance Bureau releasing a set of guidelines on the underwriting process of the city’s upcoming transaction.

ICBC London raked in $500m from a new three year floating rate note on Monday, as the strength of its credit helped muster strong buy-side demand.

Philippine fast food restaurant chain Jollibee Foods Corp (JFC) is planning to float its Vietnamese unit, according to a stock exchange filing on Monday.

Two senior members of UBS's debt origination and syndication team in Hong Kong have left the bank, according to multiple sources.

The opening of China's interbank bond market (CIBM) this year means that the world's third largest fixed income market will become an increasing focus for global investors, according to the world's largest asset manager.