China

Chinese property developer Yanlord Land Group has rolled out its $600m dual-tranche financing into general syndication.

In this round-up, the RMB is hangs on to its gains in the FX market, China sees RMB trade settlement sink to a four-year low, and Hong Kong Exchange (HKEX) is preps launch of offshore RMB (CNH) options contracts. Plus, a recap of our coverage this week.

Chinese digital map provider NavInfo has hit the syndicated loan market for €110m to fund its acquisition of a stake in a European target.

Credit Suisse named one of its most senior investment bankers in Asia Pacific as China CEO this week, putting him in charge of a strategy increasingly focused on wealth management and China. The move came as the resilience of the bank's regional and integrated model continues to be tested, writes John Loh.

Bank of China taps new loans head — Maybank Kim Eng loses HK/China CEO — UBS adds three to equity sales trading, derivatives

Chinese borrowers are itching to take advantage of cash rich investors in the offshore debt market but many have been delayed by the country’s registration process. This is leading to speculation that the National Development and Reform Commission (NDRC) is trying indirectly to control the outflow of capital. Morgan Davis reports.

Chinese high yield property issuers have shown that they have investors in the palms of their hands, taking advantage of accounts’ hunger for yield to price deals at levels that would have been impossible a few months ago. But as more property companies face refinancing needs and investors spend their cash, borrowers will need to adapt to a tougher pricing environment.

ICBC (Asia) has begun offering 24-hour CNH prices for its clients, become the first Chinese bank to quote offshore renminbi all day.

Chinese state-owned Qinghai Provincial Investment Group Co sealed its inaugural dollar bond on a quiet day in Asia DCM, bagging $300m from an over 8x subscribed transaction. But pricing was somewhat constrained by the country's weak aluminium sector.

Japanese lenders have been largely missing from headlines of RMB-related initiatives, but some are starting to dip their toes into RMB infrastructure, starting with the cross-border interbank payment system (CIPS).

Xinyuan Real Estate is drumming up interest for its first international bond of the year, hiring seven firms to work on a Reg S transaction.

GlobalCapital Asia and Asiamoney are pleased to announce the results of our annual awards, recognising the best banks and transactions in China. Thanks to everyone who took time to pitch and our congratulations to the winners.