China

Three banks will supply funds to back private equity firm Partners Group's acquisition of business process outsourcing firm SPi Global.

ESR Cayman sealed a $100m perpetual non-call three year on Wednesday, but the market remained a tad soft with investors being defensive when it came to risky names.

The offshore renminbi (CNH) reached its strongest point against the dollar since the start of the year on Thursday, despite China’s sovereign rating downgrade last week. Analysts say the sharp turn reflects Chinese regulators’ determination to keep the currency from falling ahead of renewed pressure from external factors.

DBS Group Holdings and HSBC Holdings are wooing debt investors, with the former seeking a dollar senior deal, and the latter a Singapore dollar perpetual. The Export-Import Bank of China (Chexim) is also collecting bids for its fundraising.

The People's Bank of China published the blueprint of the upcoming Bond Connect scheme on Wednesday, and has asked the public for feedback by June 7. The provisional rules shed light on themes including FX and hedging.

The Export-Import Bank of China (Chexim) is set to hold investor calls for a euro fixed rate five year bond and a dollar floating rate three year. India’s Canara Bank, meanwhile, will meet accounts in Asia and Europe for its first dollar outing since 2013.

There was little understanding among market watchers to news that the Chinese central bank is planning to introduce a counter-cyclical component to the calculation of the daily fix of the onshore RMB (CNY). Analysts say the move contradicts earlier statements from the PBoC about giving markets more say in the exchange rate.

The Republic of the Maldives is selling its debut international bond, while ESR Cayman is looking to price a perpetual non call three year note on Wednesday.

Bloomberg has launched a new investment analytics tool to track China’s bond market, ahead of the launch of the Bond Connect. The product is set to increase transparency in the Mainland debt market, complementing the country’s efforts to widen access for foreign investors.

Chinese steel producer Shougang Corporation has mandated banks for its inaugural euro bond, with roadshow set to begin on Wednesday.

Four Chinese issuers have recently registered with the National Development and Reform Commission (NDRC) to sell offshore bonds, according to an update on its website last Friday.

China’s FX market records Rmb11.38tr ($1.65tr) of transactions in April, the State Administration of Foreign Exchange releases more foreign investment quotas, and CFETS completes first options write-off in the interbank market.