Asia Pacific

China Construction Bank (CCB)’s plans to sell its first offshore renminbi bond in the UK by its head office next week also marks the first CNH bond to be approved under the new pre-issuance registration system set by the National Development and Reform Commission (NDRC) last month.

AAA Oils and Fats, a trading subsidiary of palm oil processor and distributor Apical Group, is in the market for a loan of up to $130m.

Coal miner Adaro Energy, which has been in talks with its relationship banks for a loan to refinance debt, has sent out a formal request for proposals.

Hengtou Securities priced its HK$1.54bn ($198.32m) IPO at the wide end of guidance on October 8, with support coming mostly from Hong Kong and Chinese investors.

Bangladesh’s Atiur Rahman appears to be one of the relaxed and contented central bank governors in Lima this week, having avoided the commodity crash and sitting on substantial foreign currency reserves. The taka is also about to make its debut in the international bond markets, with the IFC set to issue in the currency

In this round-up, Hong Kong RMB clearing dropped in September, Macau's RMB deposits and cross-border settlement also fell in July, South Korea's RMB deposits kept contracting in September, and Bank of China Budapest branch formally launched RMB clearing services.

Positive comments by the head of the Asian Development Bank about his supposed rival, the China-led AIIB, has heightened speculation the pair have agreed not to fight turf wars, reports Anthony Rowley.

Two debut renminbi bond offerings are expected to price in the next two weeks ahead China’s President Xi Jinping’s visit to the UK later this month. While The People’s Bank of China (PBoC) is aiming to offer its first overseas RMB central bank note on October 20, China Construction Bank (CCB) is to bring the UK market the first CNH offering issued by its head office on October 12, several sources have told GlobalRMB.

The Singapore Exchange (SGX) has picked UBS as the general counterparty for its upcoming over-the-counter (OTC) electronic bond trading platform called SGX Bond Pro.

Mitsubishi UFJ Lease & Finance Company is preparing to issue a second dollar bond this year, with investor meetings scheduled for next week.

The Shanghai pilot free trade zone (FTZ) turned two years old at the end of September. In the same month a number of new reforms and milestones were announced, showing the first FTZ still has traction as a business centre for local and foreign businesses in China.

A report by CLSA and Citic suggests China’s overcapacity issues could be partly solved by Xi Jinping’s One Belt One Road project