Asia Pacific

A local government financing vehicle of the Huai’an municipality in China has raised $300m from the bond market, finding decent demand not just from domestic accounts but also from European and global investors.

China Orient Asset Management International has increased the size of its debut syndicated loan to $350m from $200m, after commitments in excess of $800m poured in.

South Korea’s GS Engineering & Construction Corp has raised $150m with its first dollar convertible bond in over two years.

In this round-up, Hong Kong saw RMB deposits, trade and clearing pick up, foreign exchange trading in China as direct trading of Korean won and South African rand is launched, and Standard Chartered’s RMB Globalisation Index (RGI) fell to its lowest since August 2014. Plus, a recap of our coverage this week.

Hong Kong Telecommunications (HKT) stood out in what was a very crowded Thursday for the Asia ex-Japan dollar bond market, pricing the region’s tightest triple B rated 10 year bond.

The Asia ex-Japan additional tier one market could finally be getting some action with Industrial and Commercial Bank of China (Asia) set to go on the road next week for its debut AT1.

Electronic broker Icap launched the first offshore renminbi (CNH) FX benchmark based on market trading, the first said on July 7. The new fix, which is priced at the open of European markets, aims to fill the gap between Asian trading sessions.

A new index series created by Thomson Reuters and licensed to the Hong Kong Exchange (HKEX) is aiming to become the renminbi equivalent of the widely used DXY dollar index, one of the series’ creators at Thomson Reuters told GlobalRMB.

Yes Bank, India’s fifth largest private sector bank, has found good demand for its $1bn equity capital raising on a round of investor pre-marketing meetings.

Stuart Tait has been named HSBC’s new regional head of commercial banking, Asia Pacific, replacing Paul Skelton who has decided to leave the firm to pursue other opportunities.

The Asian debt market has had a slow but steady stream of deals since the Brexit vote on June 23, but Bank of China blasted the issuance window wide open on Tuesday with a $3bn five tranche, multi-currency transaction — the region’s largest international green bond. Max Bower reports.

Three Indian state-owned oil companies have hit the loan market for fresh money to support their joint acquisition of oil fields in Russia. Several banks are keen to submit bids but the adverse impact from US sanctions on Russia could pose a challenge, writes Shruti Chaturvedi.