Asia Pacific

China Grand Automotive Services Group Co has launched an offer to exchange two dollar bonds in part, leading to a sell-off in its existing curve in the days following the announcement.

In this round-up, China and the United States emerged out of a two-day trade talk with a “phase one” deal, China’s securities regulator set dates for further opening up of onshore financial markets and the Monetary Authority of Macau plans to launch a Nasdaq-like stock exchange for the offshore renminbi market.

Chinese homebuilder Jiayuan International Group dipped into the market again on Friday, selling a $200m bond.

Sumitomo Mitsui Banking Corp has hired Aaron Chow as a general manager in its investment banking department.

In this round-up, Mainland Chinese partners cut ties with the National Basketball Association (NBA) after disagreements surrounding the Hong Kong protests, China’s foreign currency reserves fell in September and UBS has received the green light to trade global depositary receipts through the Shanghai-London Stock Connect.

In this round-up, vice premier Liu He started a two-day negotiation in Washington DC, the Chinese Ministry of Finance transferred 10% of its stake in Bank of Communications into a state-run fund and the National People’s Congress released draft rules to regulate state employees’ public discourse.

A real estate investment trust backed by conglomerate Lotte Group has raised W430bn ($362.1m) in South Korea’s largest public Reit listing.

Hong Kong-listed chipmaker Semiconductor Manufacturing International Corp has sealed a Rmb1.5bn ($211m) Panda bond, opting for a super short-term tenor for the many advantages it offers, said sources close to the situation.

Industrial and Commercial Bank of China raised $1bn from two Libor-linked floating rate notes (FRNs) at record tight levels, a day after its peer Bank of China paid up to issue Asia’s first dollar floater tied to a new benchmark.

E-House (China) Enterprise Holdings returned to the dollar market for the third time this year, raising $200m from its latest deal.

Yancheng Oriental Investment & Development Group Co raised $360m from a bond on Thursday, while another Chinese government-owned issuer, Shandong Shipping Corp, priced a $200m three year deal.

India’s securities regulator has published a detailed framework for the issuance of depository receipts (DRs), potentially giving the country's companies greater access to foreign capital.