Asia Pacific

Renminbi adoption has surged in the United Arab Emirates while lagging behind in the Eurozone, according to the latest data by the Society for Worldwide Interbank Financial Telecommunication (Swift). The Chinese authorities also seem ready to increase RMB connectivity with the Middle East through a number of new initiatives.

A veteran loans banker most recently with Bank of America Merrill Lynch is tipped for a senior role at Bank of Tokyo-Mitsubishi UFJ.

An average of about three covered bonds a week are expected between the start of the fourth quarter and the end of November, but with German holidays, blackout periods and elections, the two month funding window is thick with the risk of disruption.

One of the biggest Chinese bad debt managers China Cinda Asset Management sealed a $3.2bn deal last Friday, marking the country’s first AT1 from a non-bank entity. In addition, it is also the largest dollar deal from a Chinese issuer so far this year.

MBK Healthcare, owned by Mitsui & Co, is looking to raise up to MR1.05bn ($253.6m) from a sale of shares in Malaysia's IHH Healthcare.

China Minsheng Hong Kong International Leasing is planning to raise at least $300m from its latest loan, more than the initial $200m, after receiving a good response during general syndication.

China South City Holdings executed a swift tap of its outstanding $200m 6.75% five non call three notes last Friday, adding another $150m to its coffers.

The budding Chinese Panda bond market is about to get its second Canadian issuer with the National Bank of Canada establishing an up to Rmb5bn ($750m) programme.

Construction equipment maker Doosan Bobcat has thrown open the doors on its W2.4tr ($2.2bn) IPO, the largest listing in South Korea since 2010.

Three Chinese issuers went out to woo investors on Monday to get ahead of a potential boom in bond supply after announcements from the US Federal Reserve and Bank of Japan last week.

China Citic Bank International is looking to add to the recent flurry of issuance in the bank capital market, hitting the road on Monday for a Basel III additional tier one transaction.

Bank of Tokyo-Mitsubishi UFJ has hired a banker for its loans team in Singapore, according to sources.