Asia Pacific

Nissan Motor will hit the road this week to meet offshore renminbi bond investors, becoming only the latest foreign company to turn to dim sum investors for a high=profile source of funding.

Taiwan’s Advanced Semiconductor Engineering made its debut in the offshore renminbi bond market last week, selling a dual tranche deal that found a lot of demand from Taiwanese corporations — and capped a busy week in a market that has become a haven for battered bankers and investors.

Khazanah Nasional, the Malaysian state-owned investment fund, is set to become the first company to sell an Islamic bond denominated in offshore renminbi — merging a market that has failed to take off in Asia with one that has grown rapidly in the last year.

Korea Finance Corp (KoFC) made its debut in the Samurai bond market this week, avoiding the battered dollar bond market and turning to a more reliable investor base for funds.

US fast food company Yum Brands met investors this week ahead of a potential offshore renminbi bond, adding to a growing supply of foreign companies considering making their debuts in the market.

French gas producer Air Liquide closed an Rmb850m ($133m) seven year bond late last week, getting reverse enquiry demand from investors after it sold a larger five year issue in the public market.

Japan’s automaker Nissan Motor has mandated two banks to handle a potential dim sum bond deal. HSBC and Standard Chartered are taking the company to meet with investors in Hong Kong and Singapore next week.

China needs to deliver greater clarity over how renminbi raised in Hong Kong can be moved onshore, says a financial official at a company that has raised money in the currency offshore.

US fast food company Yum! Brands is meeting investors this week ahead of a potential offshore renminbi bond, adding to a growing supply of foreign companies considering making their debuts in the market.

French gas producer Air Liquide closed a Rmb850m ($133m) seven year bond late last week, getting reverse enquiry demand from investors after it sold a larger five year issue in the public market.