Asia Pacific

China Properties Group looks set to price its debut dim sum bond after it announced initial guidance on Tuesday.

Chu Kong Petroleum had still not priced its debut dim sum bond on Tuesday after announcing initial guidance the day before. The credit has faced a number of financial issues over the past year, including a profit warning. The bookrunner says that the response from investors is mixed but still hopes that the deal will price tonight.

The People’s Bank of China (PBoC) is set to release detailed rules on renminbi cross border trade settlement in the Shanghai Free Trade Zone (FTZ) this week, and major banks will sign related agreements with payment institutions on Tuesday, according to Chinese media reports, writes Carrie Hong.

Chu Kong Petroleum & Natural Gas Steel Pipe Holdings has released initial guidance on its debut bond - opting for dim sum - almost a month after competing its investor roadshow.

Central Plaza Development received overwhelming demand for its new three year deal on Monday but struggled to get much investor interest for the five year tranche due to buyside wariness about longer tenors and the issuer’s reluctance to push pricing.

Korea Gas Corp (Kogas) received overwhelming demand for its $500m 10 year bond on February 6, capitalising on improved market sentiment and a successful deal from Korea Midland Power the day before to secure a $4bn order book and price inside its curve.

In this week’s round-up of offshore renminbi news, Standard Chartered's Renminbi Globalisation Index rises 5.9% in Dec on rising deposits and cross-border payments; Citi introduces a Chinese Government and Policy Bank Bond Index to its RMB/CNH bond indices; JP Morgan and Deutsche Bank establish new treasury management services in the Shanghai FTZ.

One month into the reopening of China’s equity market and the doomongers that had predicted a resulting dire year for Hong Kong IPOs are noticeably quieter. But while A-shares are certainly enjoying a revival, Hong Kong still has the edge when it comes to pricing and pipeline.

Central Plaza Development received overwhelming demand for its new three year deal on Monday but struggled to get much investor interest for the five year tranche due to investor wariness about longer tenors and the issuer’s reluctance to push pricing.

Holders of private placement notes (PPNs) issued by Luoyang Mining Group have asked for early redemption in what is the first such case in China’s domestic market. A creditors’ meeting will be held today, sources close to the situation have told Asiamoney.

Central Plaza Development kicked off issuance under its newly established $1bn-equivalent MTN and perpetual securities programme on Monday evening, pricing a Rmb2.25bn ($371m) dual tranche dim sum bond, the first since the Chinese New Year holiday.

Korea Gas Corp (Kogas) received overwhelming demand for its US$500 million 10-year bond on Thursday, capitalising on improved market sentiment and a successful deal from Korea Midland Power the day before to secure a US$4 billion orderbook and price inside its curve.