Asia Pacific
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In this week’s round up of offshore renminbi news, Luxembourg sees renminbi payments surge, Hong Kong and Malaysia promote private-sector renminbi trade, and China’s central bank helps the renminbi’s perception.
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ANZ Bank’s €1bn five year, priced on Tuesday at 17bp over mid-swaps, was placed with around 50 accounts after leads built a €1.15bn book.
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One of China’s policy banks – thought to be China Development Bank - is planning a multi-tranche dim sum bond to be listed on separate exchanges this year, say dealers.
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ANZ Bank launched a five year euro benchmark on Tuesday, despite a weak market backdrop, only a few weeks after it tapped the Aussie dollar market with a 10 year covered bond.
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Bond investors in Asia believe that China credit growth-related risks are escalating, and that policymakers should implement proactive reforms to mitigate the risks for China-related assets.
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The issuance of negotiable certificates of deposits (NCD) into China’s interbank market is another step towards developing market-determined interest rates, enhancing Shibor’s reliability, say experts. -
Water treatment company United Envirotech has issued a S$50m ($39m) three year bond which will be used to fund an acquisition.
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The Laotian sovereign is waiting for approval from the Thai Ministry of Finance (MoF) to go ahead with its second international bond. The deal will be double the size of its debut issuance, with a longer tenor.
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The People’s Bank of China’s call to implement mandatory meetings between financial regulators indicates China’s need to rein in its agencies and their diverging agendas, say economists.
