China

State-owned Power Construction Corporation of China and Sinochem-backed Far East Horizon are in the market with dollar-denominated perpetuals, while Tunghsu Group is making its international debut with a three year.

Malaysia’s CIMB Group has sold half of its international brokerage operations to China Galaxy Securities Co, formalising a plan set out last year.

Industrial Commercial Bank of China’s London branch and subsidiary signed a self-arranged $1.25bn facility in an oversubscribed deal with 16 banks on Tuesday. The deal follows a spate of lending by the bank in emerging market deals.

NEX Markets has added Bank of China (Hong Kong) to its array of liquidity providers on its FX trading platform, citing the lender’s market-leading role in providing offshore renminbi (CNH) liquidity.

State-owned Power Construction Corporation of China (PowerChina) is connecting with fixed income accounts for its second international senior perpetual bond.

China Merchants Bank printed its inaugural international floating rate note this week, becoming the first joint stock bank from the country to do so. It priced its bonds close to fair value.

South Korea’s GS Caltex Corp bagged a $400m five year deal on Monday, securing buy-side support thanks to its credentials, despite a soft market backdrop.

China Construction Bank International opened books for a new five year deal on Tuesday morning, backed by the lender's Hong Kong branch.

Chinese developer Fantasia Holdings Group Co is in the market on Tuesday with an unrated short-term dollar note for refinancing purposes.

China Everbright Bank’s Hong Kong branch launched a new dollar three year floater on Tuesday morning, just a few months after sealing a $500m 2020 fixed deal.

One Belt One Road has graduated from diplomatic talking point to economic imperative after China pledged a series of investments at the Belt and Road Forum for International Cooperation in Beijing in mid-May. Now, banks are lining up to get a piece of the action in a field that is traditionally dominated by governments and policy institutions.

China Huishan Dairy has found a discrepancy in its cash position, which as at March 31 was much higher than confirmations received from banks, according to a Monday filing.