Asia Pacific

The new qualified domestic institutional investor (QDII2) scheme may be the missing link that allows global money managers to really tap into China's potential for outward investment. A necessary condition to that strategy, however, is a corporate structure that until recently was barred to asset managers — the wholly foreign-owned enterprise (WFOE).

Beijing Properties and Miclyn Express Offshore (MEO) are making their inaugural foray into the offshore bond market with dollar-denominated offerings.

Standard Chartered’s former head of debt capital markets for Hong Kong, Peter Szekely, has moved to a new position at Australia and New Zealand Bank.

Clifford Chance has made a senior appointment to its high yield business in Asia with Alexander Lloyd set to rejoin the law firm in January 2016.

China Everbright International is mulling a listing of its green technology arm on the Hong Kong Stock Exchange, as the HK$55.5bn ($7.16bn) company looks to monetise the unit.

After waiting more than six months, Luxembourg has obtained its first licence under the renminbi qualified foreign institutional investor (RQFII) scheme. Industrial and Commercial Bank of China (Europe) received an approval on November 2 and is aiming to get a quota within the month.

Singapore-listed property developer Oxley Holdings has closed its S$110m ($80m) bullet loan with three lenders joining the syndicate.

Kino Indonesia opened books for its Rph1.5tr ($110m) IPO on November 10 with a strong shadow anchor book built ahead of time, giving the leads visibility on the whole transaction.

Star Petroleum Refining has firmed up terms on its long-brewing Bt15.66bn ($441.59m) IPO, set to be one of Thailand’s largest listings this year.

Beijing Enterprises Water Group has returned to the international loan market for a $200m deal, which comes with a $100m greenshoe. The money is being raised under the International Finance Corp’s A/B programme, with the supranational as lender of record.

CNY swaps have been offered on weak inflation data and the curve is steeper. South Korea is planning a Panda bond issue. PBoC has allowed the CHF/CNY currency pair to trade directly in the FX market, writes Deirdre Yeung of Total Derivatives.

India Infrastructure Finance Company (IIFCL) is looking to join the growing pipeline for offshore rupee-denominated bonds, or Masala bonds. Although this is encouraging for the country’s regulators who hope to internationalise its currency by promoting the asset class, market participants warn that there is a lot of work to be done before the first issue comes to fruition.