China

China has made little headway in persuading the Russian government and Russian institutions into using the renminbi, as the fate of a sovereign bond in the currency remains uncertain and trading of RMB products stalls. But market participants are not giving up just yet, with a new trading platform set to launch next year, writes Paolo Danese.

Hong Kong IPO hopefuls rushed to file their draft prospectuses with the city’s bourse this week, as the window closes for a launch before the end of the year.

Chinese technology giant Xiaomi Corp, which recently floated in a landmark IPO in Hong Kong, is seeking lenders’ approval to slash the price on a $1bn loan closed last year.

Qutoutiao and 111 have launched their respective IPOs on the Nasdaq this week, while Liulishuo has headed to New York for a listing.

Two Chinese borrowers’ different approaches to (and different outcomes from) their green bond sales this week have once again put the spotlight on a question that has long plagued the market: where are Asia’s green bond investors? Morgan Davis investigates.

A number of bond issuers ventured out to the debt market on Wednesday, braving a weak market backdrop to pull off deals not just in US dollars, but also in Singapore dollars and offshore renminbi.

Two senior bankers have joined Nomura as managing directors on the China investment banking and Asian healthcare teams, according to two memos seen by GlobalCapital Asia.

Chinese mobile content aggregator Qutoutiao has hit the play button on its US IPO, targeting $144m from an offering of American Depository Shares (ADS).

Singapore’s United Overseas Bank and Shanghai Pudong Development Bank have agreed to work together on financing Belt and Road-related activities.

Two Chinese bond issuers found opposite responses to their green outings on Tuesday. While China General Nuclear Power Corp opted for a euro-denominated deal to target green dedicated funds in Europe, Beijing Capital Group found less traction with sustainability-focused investors for its dollar trade.

China International Capital Corp (Hong Kong) has priced a $400m three year floating rate note in line with market expectations, paying just a single-digit new issue premium.

China General Nuclear Power Corporation sold its second green bond in the euro market on Tuesday, nine months after its first success in the format. Last time the company sold green alongside five and 10 year conventional dollar bonds and this time it used a similar combination, replacing the 10 year dollar option with 30 year notes.