Asia Pacific

The Islamic Republic of Pakistan has raised a new $300m 18 month loan, making a rapid return to the syndicated market.

YiChang HEC ChangJiang Pharmaceutical Co has opened books for a float of HK$1.67bn ($215m), kicking off the process with a renowned pharma investor among the cornerstones.

The People’s Bank of China (PBoC) and the Central Bank of United Arab Emirates have signed a memorandum of co-operation to set up renminbi clearing arrangement in UAE. At the same time the region is set to get its first RQFII quota.

China National Bluestar wrapped up an unexpected dollar bond last week, forcing some investors to remain on the sidelines due to tight pricing and lack of clarity.

The announcement of a new RMB exchange index has rekindled debate about whether the People's Bank of China (PBoC) needs to review the way it communicates with global markets. The answer is a resounding yes.

A €630m ($683.6m) facility for a unit of China National Chemical Corp has been allocated, with a dozen banks coming in during general syndication.

Industrial and Commercial Bank of China (ICBC) London has become the lender’s third branch to issue a dollar bond in just over a month. This is part of the issuer’s plans to ramp up its presence in the international debt market with bankers expecting more of its branches to join in.

Indonesian telco tower company Solusi Tunas Pratama (STP) has asked banks to relax a covenant on a loan raised in May as it anticipates future acquisitions that will change its gearing levels.

The China Foreign Exchange Trade System (CFETS) published the details of an exchange rate index for the renminbi for the first time on December 11. The index is based on a basket of 13 currencies, with the dollar, euro and yen taking the lion's share.

YiChang HEC ChangJiang Pharmecutical Co has settled on a price range for its H-share float, with bookbuilding to kick off on December 14.

China Zheshang Bank is following the recent slew of Chinese lenders listing in Hong Kong, having filed a preliminary prospectus with the city’s stock exchange on Thursday.

Industrial and Commercial Bank of China’s London branch started receiving bids for a three year bond on December 11, in what is the third dollar deal by a unit of the Chinese lender in just over a month.