China

Chinese real estate developer Agile Group has sealed a HK$624m ($80m) financing with one bank.

Hong Kong-listed Fosun International has hiked the size of its syndicated loan to $806m-equivalent from $650m. The company raised the money in two currencies, with the final deal split between a $673m portion and a €118m tranche.

Korean Air Lines is trying to take off with a new dollar bond following an aborted attempt in September last year. Also on Monday, GS Caltex Corp is out with a five year 144A/Reg S deal, while SOCAM Development has reopened its recent notes.

China Three Gorges Corp is set to make its debut in the green debt market with a euro offering, and is gauging investor appetite with a week-long roadshow.

Mainland banks continue to be active in the floating rate bond market, with China Merchants Bank Co looking to sell its inaugural dollar FRN on Monday.

In this week's round-up, the People’s Bank of China says it will maintain a neutral monetary policy, Silk Road Fund and European Investment Fund sign memorandum of understanding for Belt and Road financing, and Luxembourg holds international renminbi forum.

The retail unit of China Petroleum & Chemical Corp (Sinopec) has held a beauty parade for its Hong Kong IPO, which is expected to raise around $10bn, according to a source familiar with the matter.

Export-Import Bank of China came to the market with a two-currency, fixed and floating rate transaction on Thursday, snapping up $918m-equivalent. Its outing followed downgrades on China’s sovereign rating and that of the issuer, but buy-side concerns were well contained.

In this week’s round-up, the Hong Kong Exchange’s USDCNH futures record their second best trading volume on Wednesday, renminbi deposits in Hong Kong increase by 4.1% in April, and China and Germany agree to co-operate on trade and finance.

Bank of China and Standard Chartered (China) completed the first interest rate swaps under China’s new repurchasing fixing rate (FDR) on May 31. Experts say the recently introduced rates will better reflect liquidity in the market and work in the favour of foreign banks.

Hong Kong’s FWD Group and Chinese leasing firm Far East Horizon are wooing investors for their respective perpetual deals, while Tunghsu Group Co is gauging interest for its debut international bond.

The Shenzhen Stock Exchange and Bombay Stock Exchange have signed a memorandum of understanding to promote capital markets co-operation, in a bid to give a fillip to small and medium enterprises and innovative companies.