China

Chinese sportswear manufacturer Xtep International Holdings is looking to tie up a $100m amortising loan, having enlisted a Hong Kong lender to arrange it. Xtep has sold syndicated loans in the past but is reaching out to a smaller group of banks this time.

Credit Suisse has hired Rick Meng to run its onshore China private bank, handing him a critical role as it seeks to add hundreds of wealth advisers in Asia Pacific.

Diesel engine maker Weichai Power has approached the loan market for a €310m ($334m) five year borrowing via ANZ.

China’s Yancheng Oriental Investment & Development Group Co and South Korea’s Doosan Infracore Co ventured out to the DCM market on Tuesday for their respective dollar-denominated bonds.

Bad debt manager China Huarong Asset Management hit the market on Tuesday with a new triple tranche dollar deal, its third debt-raising this year.

The shock victory of Donald Trump in the US presidential elections on November 9 is already having an impact on the RMB, with the currency weakening to new record lows. We gathered some of the key views from top bank analysts in the days since which draw a picture that is far from pretty (but not hopeless) for China.

Chinese local government financing vehicle Jiangsu Hanrui Investment Holdings tapped its outstanding 2019s last Friday in the post US-election market, raising $190m on the back of reverse enquiry.

UBS is rejigging its Hong Kong-based corporate finance group (CFG) and its team of junior China-focused country bankers, affecting about 20 staff.

In this new Monday round-up from GlobalRMB, we bring you a collection of market and regulatory developments from the weekend as well as provide a preview of upcoming events this week.

The London RMB hub has been under threat from the Brexit vote, but China seems keen not to jump ship yet. The latest round of meetings have yielded a commitment to launching the long-promised London-Shanghai Stock Connect, the UK Treasury said on November 10.

Chinese local government financing vehicle Gansu Provincial Highway Aviation Tourism raised $500m on Thursday in the nearly silent, post-US election DCM market in Asia.

Adani Ports and Special Economic Zone, one of India’s largest port operators, is planning a comeback to the international bond market after more than a year.