Asia Pacific

China Resources Land is lining up the Panda bond market’s first deal after the Chinese New Year holiday. The Rmb6bn ($946.6m) three year bond, the biggest offer in the asset class in six months, may kick start a streak of onshore transactions, said onshore DCM bankers.

Indian processed shrimp producer Devi Seafoods has kicked off preparations for a Rp9bn ($138.5m) IPO, filing a draft prospectus with the country’s market regulator on Monday.

European implied equity volatility has fallen after Angela Merkel secured a fourth term as German chancellor and despite Italy's general election producing a hung parliament.

Austrian wood products manufacturer Egger Holzwerkstoffe sold its third hybrid capital deal on Monday, with its largest size and lowest coupon to date. At the same time, Brisbane Airport announced plans to diversify its investor base.

Arab Petroleum Investments Corporation (Apicorp) became the second issuer from the Gulf to tap the offshore renminbi market last week, marking a new development in the tool kit with which Middle Eastern borrowers are looking to harness Asian demand, according to a banker with knowledge of the deal.

Bank of America Merrill Lynch has promoted Craig Coben, its global head of equity capital markets, to vice-chairman of global capital markets. The role takes him out of day-to-day business management and allows him to focus purely on clients.

Georgia Capital, the investment arm of Bank of Georgia Group (BGEO), had the sole attention of EM investors on Monday with a new six year note.

The People’s Bank of China (PBoC) updated its regulations on capital bonds last week, encouraging lenders to supplement their capital with new issuance and start getting ready to comply with international standards on meeting total loss absorption capacity (TLAC) requirements. But it also clarified loss absorption terms — a move that may impact offshore additional tier one volumes from the Mainland.

Chinese lawmakers are gathering in Beijing for their annual conference, with premier Li Keqiang already announcing measures to further open up financial markets. China’s parliament is expected to consolidate regulations overseeing foreign investments, and analysts are anticipating announcements on who will take the helm at the People’s Bank of China after Zhou Xiaochuan.

China Xinhua Education Group has kicked off investor education for its Hong Kong IPO, which is expected to raise around $200m, said a source close to the deal.

The Export-Import Bank of Korea raked in a larger than expected Rmb1.5bn ($236.5m) from an offshore renminbi bond on Friday, in a deal buoyed by Taiwanese investors’ appetite for new paper.

China sticks to a 6.5% growth target for 2018, Ministry of Commerce (MofCom) criticises a US proposal to impose tariffs on steel and aluminium imports, and the Shanghai and Shenzhen stock exchanges outline rules for Belt and Road bond issuers.