Asia Pacific
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The renminbi will continue to appreciate this year despite recent falls but the currency will experience more volatility, argues the Australian bank. -
Top 3 Offshore RMB DCM Transactions - 2012 YTD
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Yields for renminbi and CNH bonds are approaching equilibrium, raising questions for Chinese entities eyeing the offshore market.
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Demand for high-yield CNH debt appears to be returning to the market following a hiatus that began last year, but investors are very brand conscious, say bankers.
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Raiffeisen Bank International (RBI) opened the dim sum market to Austrian borrowers late last week, setting a benchmark for other potential issuers from the European country. But bankers are not expecting a flood of dim sum deals from Austria after the issue.
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Industrial Bank of Korea raised Bt7.3bn ($238m) in Thailand’s domestic bond market late last week, leaving it with around $1bn left to borrow for the rest of the year. Funding officials are now weighing up the benefits of dollar and yen bonds, but can now wait several months before attempting another deal.
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An inevitable rebalancing of China’s economy will be accompanied by a collapse in commodity demand within five years, a leading China expert has warned
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Hitachi Capital Corp priced its debut dim sum bonds inside the secondary prices of another Japanese firm, Orix Corp, as worries about Europe’s debt problems ease.
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Brazil looks set to be the first country in the region to use the Chinese currency on a significant scale for both trade finance and official reserves
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Latin America should prepare for a surge in Chinese investment, analysts urge
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Australia and New Zealand Banking Group looks set to become the third Australian borrower to issue in its domestic currency. ANZ has mandated leads for a four year dual tranche, fixed and floating rate benchmark. Westpac has issued its first deal denominated in Swiss Francs
