Asia Pacific

CRRC Corp has received the thumbs up from its board to sell a convertible bond worth up to $1bn, making it the first Chinese issuer to tap the offshore equity-linked market following the National Development and Reform Commission’s (NDRC) overhaul of foreign debt sales.

Fixed income specialist SC Lowy has set up a par loan trading platform in Asia, as it seeks to tap into the growth of the secondary loan market in the continent.

China Reinsurance opened its HK$15.6bn ($2.01bn) IPO with a bang on Monday, putting around half the deal in the hands of cornerstones and sending out a covered book message just hours after launch.

China Construction Bank is set to price the first offshore renminbi bond in more than two months, which bankers say is part of the government’s initiative to open up the dim sum bond market. The notes will also mark the first CNH deal under the newly established NDRC rules.

GlobalRMB is reporting from Sibos 2015 in Singapore this week. Here we round up the best from day one of the conference including DBS CEO Piyush Gupta and Boston Consulting Group. Keep checking throughout the day for new updates.

Chinese developer Soho China has extended the offer period to buy back its existing bonds by a week, after noteholders tendered just 36% of the company’s 2022s.

Beijing Automotive Group (BAIC) is planning to issue its first G3 bond, having mandated four banks to arrange a series of investor meetings starting this week.

South Korea’s Woori Bank has sent out a request for proposals for an offshore bond, with plans to pick five or six banks to lead the transaction.

Tata Motors is looking to refinance an outstanding $600m loan, marking the fourth time a Tata Group company is tapping the syndicated market this year.

China’s economic slowdown and the collapse of commodity prices have taken their toll on Latin America, which is now moving towards negative growth this year, according to the IMF and the World Bank.

In order to calm the anxiety of foreign currency traders and hopefully reverse prevailing market expectations, China’s President Xi Jinping reiterated during his state visit to the US last month that there was no basis for long run depreciation of the yuan.

The Trans-Pacific Partnership (TPP), the two day old 12-country trading bloc, could soon include the Philippines, which set out plans to join, while the move looks set to push the Mercosur countries to strengthen their trade links