China

First Abu Dhabi Bank hit the Taiwanese market for a Rmb1.1bn ($172.69m) bond on Wednesday, just two months after its last Formosa deal.

The China arm of HSBC visited the Chinese debt market this week and took home Rmb3bn ($472.5m). The issuer cashed in on its name recognition in Mainland China, and sealed the deal despite cautious sentiment among onshore investors.

Avic International Holding Corp has raised $400m to address an upcoming bond maturity, finding enough support for a twice covered transaction. But the pricing reflected some weakness in the lower end of the Chinese investment grade curve.

Canvest Environmental Protection Group Company’s Hong Kong dollar denominated $150m-equivalent loan has attracted five participants.

Chinese technology company ZTE Corp appears to have been saved from the brink, after US President Donald Trump’s surprising intervention on Twitter. But although that may look like good news to ZTE’s investors, it should not be applauded by anyone else. The only thing predictable about the trade war between China and the US is quite how unpredictable it will be.

A rare floating rate note from Peking University Founder Group on Monday stood out in a busy market, raising the question of whether the format can become popular among corporations.

Bank of China’s aircraft leasing arm BOC Aviation sold a rare seven year dollar-denominated floating rate note (FRN) on Monday to an overwhelming response. The deal has opened the door to other financial institutions in the region looking to extend their funding profiles in the format.

MSCI has confirmed the 234 A-shares it is including in its benchmark Emerging Markets (EM) Index from June 1. Instead of grabbing all the A-shares they can get on the first day of inclusion, international investors are likely to take a tempered approach and build their exposure incrementally, analysts said.

The upcoming inclusion of onshore assets in global indices will drive massive inflows to the onshore capital markets, but will also have the side effect of downsizing the role of the offshore RMB (CNH) markets, according to Julien Martin, the head of FIC product development at the Hong Kong Exchanges and Clearing.

HSBC’s China subsidiary is returning to the domestic bond market with a three year note today. Quietly confident that offshore investors will participate through Bond Connect, the bank took a relaxed approach when marketing the deal, sources familiar with the transaction told GlobalRMB.

Scepticism over China's ability to become a global financial centre was on display at an industry conference in Hong Kong, despite recent efforts at rebooting liberalisation of the onshore market.

Universal Medical Financial & Technical Advisory Services Co is making a quick return to the offshore loan market, six months after sealing a borrowing of around $600m.