Asia Pacific

China’s DFZQ, also known as Orient Securities Co, has opened books on an up to HK$8.95bn ($1.16bn) IPO in Hong Kong with a whopping 17 bookrunners crammed into the syndicate.

Bank of America Merrill Lynch has rejigged its debt capital markets team in Asia Pacific, creating a new debt solutions unit.

Clearstream has confirmed that it is working with the Chinese authorities to establish a link between offshore investors and the China interbank bond market (CIBM). The firm also said it will boost its Stock Connect capabilities from July 4.

CP Pokphand, the investment arm of Thai firm Charoen Pokphand Group, has sealed a $600m borrowing to repay a loan raised in 2012.

The State Administration of Foreign Exchange (Safe) has expanded a pilot renminbi conversion scheme that was previously confined to its four free trade zones. Market participants say this development could prompt more direct offshore bond issuance by Chinese companies and is part of the authorities’ latest efforts to negate capital outflows.

China Development Bank Financial Leasing Co has finalised the marketing price range for its listing, which would raise HK$7.6bn ($979.5m) at the top end, and has signed up cornerstone investors to take up nearly 80% of the float, according to a source close to the deal.

Longer CNY NDIRS have been bid on the easing Brexit risk and the curve is steeper. SAFE has relaxed rules on the repatriation of offshore issue proceeds. 361 Degrees is planning a dim sum buyback, writes Deirdre Yeung of Total Derivatives.

Shanghai Dazhong Public Utilities Co is looking to join the steady stream of Chinese issuers listing in Hong Kong in 2016, according to a source familiar with the matter.

Wuxi Construction and Development Investment Co kicked off bookbuilding on Monday for its first appearance in the offshore bond market. It is expected to be followed shortly by Jiangsu Hanrui Investment Holdings, which has mandated banks for its maiden dollar trade.

Cochin Shipyard has dished out the mandate for its Rp10bn ($149m) IPO in India to three domestic firms, according to sources.

Chinese sportswear maker 361 Degrees has announced a tender offer to repurchase offshore renminbi-denominated notes issued in 2014.

China announced plans to expand its currency marketplace overseas this month with branches set to be open in London and New York. Market participants say this is all part of the renminbi internationalisation effort and is the first step to further liberalising the CNY foreign exchange market.