Asia Pacific

Airport Authority Hong Kong (AA) has tied up a HK$5bn ($645m) five year fundraising with a group of 21 banks that were undeterred by the sub-100bp pricing.

In this round-up, RMB futures trading on international exchanges picked up in November, RMB clearing in Hong Kong picked up in the same month, ICBC is working on a Belt and Road financing venture, and Deutsche Bank helped a German corporate set up centralised RMB treasury functions in China. Plus, a recap of GlobalRMB’s top stories this week.

Santander UK has beaten a path that could become well trodden by European banks in the next two years, printing a holdco senior unsecured deal in the Tokyo Pro-Bond market as it looks to broaden its investor base for issuing loss absorbing debt.

China Overseas Finance Investment (Cayman) V raised $1.5bn from an extremely popular exchangeable bond on Wednesday, with the order book swelling to twice that amount.

Two Indian healthcare companies closed extremely successful IPOs on Thursday, with Alkem Laboratories and Dr Lal Pathlabs fully covered mid-way through bookbuilding. And with India’s equity capital market buzzing with activity, bankers are telling their clients to seize the day before uncertainty sets in, writes John Loh.

China’s Panda bond market is gaining plenty of traction with Standard Chartered becoming the third foreign bank to sell notes in the onshore renminbi market this year. And with a pair of sovereign issuers eager to launch their deals, the asset class is set to soon eclipse dim sum bonds, writes Rev Hui.

Reserve Bank of India has issued a new framework to regulate offshore borrowing by Indian companies. While the changes are aimed at reducing the stress in the country’s banking system, the rules have led to bankers questioning how they will adjust to the new regime. Shruti Chaturvedi reports.

Citic Securities, one of China's top brokerages, is in the headlines for the wrong reasons again after two of its top bankers went missing.

State-owned refiner Bharat Petroleum Corp has sent out a request for proposals for a $200m deal, coming to the market eight months after it cancelled a loan in favour of a bond.

CRCC High-Tech Equipment Corp has raised HK$2.8bn ($360m) from a Hong Kong IPO after pricing near the floor of its range.

American International Group raised HK$5.83bn ($752.26m) on Monday from an overnight share sale in PICC Property and Casualty Co, as it seized what may have been the last window for a large block trade this year.

The Singapore Exchange is closing the year on a positive note thanks to BHG Retail Reit, which this week raised S$255.8m ($181m) from the country’s first and only mainboard IPO of the year.