Asia Pacific

Mitsubishi UFJ Lease & Finance has returned to the international bond market just one week after pricing a dollar bond, this time opting for offshore renminbi.

Shui On Land proved that investors are still hungry for quality Chinese property credits, as it received a sizeable orderbook for what is the third biggest dim sum bond this year.

Chu Kong Petroleum & Natural Gas Steel Pipe Holdings was forced to cancel its debut dim sum bond this week, two days after issuing initial guidance. Sole bookrunner DBS struggled to price the deal as weak credit fundamentals meant the company failed to attract enough investors.

The People’s Bank of China (PBoC) Shanghai head office has kicked off a pilot scheme for cross-border renminbi payment from third-party payment institutions in the Shanghai Free Trade Zone. The pilot comes with detailed regulations on cross-border RMB payment business — the first specific rules for the financial industry since the FTZ was established late last year, writes Carrie Hong.

Mitsubishi UFJ & Finance has returned to the international bond market just one week after pricing a dollar bond, this time opting for offshore renminbi.

Unilever has announced it is returning to the dim sum market to refinance its existing 2014s. Bookrunners HSBC and UBS announced initial price guidance at 3.25% on Thursday morning.

The first exchange-traded fund (ETF) investing in China’s onshore government bonds listed in Hong Kong on Tuesday and saw strong secondary market turnover. Traders said it was the fifth most actively traded ETF of the day, writes Carrie Hong.

The People’s Bank of China (PBoC) is expected to drain more liquidity from the domestic market through an open market operation on Thursday, in response to declining money-market rates since the beginning of the Chinese Lunar New Year, several market participants have told Asiamoney, writes Carrie Hong.

Bookrunners were expecting to price Shui On Land’s first dim sum bond Wednesday after final price guidance was announced that afternoon.

Chu Kong Petroleum & Natural Gas Steel Pipe Holdings has been forced to cancel its debut dim sum bond issue two days after issuing initial guidance. Sole bookrunner DBS struggled to price the deal as weak credit fundamentals meant the company failed to attract enough investors.

After announcing initial guidance for a dim sum bond on Tuesday morning, China Properties switched to a dollar deal on Wednesday morning in response to market feedback.

Italy’s largest bank Intesa Sanpaolo is making its first foray into the offshore renminbi market, launching a five year bond on Wednesday.