China

Unrated HNA Group made a quick return with a $200m bond this week, just one month after its last offering. On the same day, Kawasan Industri Jababeka from Indonesia also priced an exchange offer for its existing 2019s.

A range of credits from India, Malaysia and Greater China stormed the Asian debt market on Thursday, vying for investor attention.

In just a few days, the renminbi will be officially included in the International Monetary Fund’s Special Drawing Rights basket — a move widely seen as a validation of the currency’s internationalisation. But the actual impact of the development on fund flows is expected to be limited, market participants told GlobalRMB.

Renminbi bonds in Taiwan had a spectacular run for most of last year. But a new age of renminbi volatility combined with weaker regulatory momentum has put the market on hold in 2016. Nevertheless market participants agree that the renminbi promise remains an enticing one. Paolo Danese reports.

Hong Kong-headquartered conglomerate CK Hutchison Holdings is readying a global sweep of debt markets to raise refinancing funds, announcing on Wednesday morning that it intends to sell a euro-denominated eight year senior unsecured bond just hours after announcing a dollar trade in Hong Kong.

Fantasia Holdings Group returned to the bond market on Tuesday, taking advantage of the low yield environment to lock in cheaper funds while improving its debt maturity profile.

Investors welcomed Chinese local government financing vehicle Jinan West City Investment and Development Group to the G3 market on Tuesday, enabling the debut issuer to net $300m off the back of $1.3bn of demand.

All eyes are on the renminbi this week with the currency set to officially enter the IMF’s special drawing rights (SDR) basket on Saturday. But what does that mean and why should you care? Here’s GlobalRMB’s quick guide to all you need to know.

Shui On Development made its return to the international bond market on Monday after almost two years, bagging $250m from a new three year unrated offering.

China National BlueStar navigated a crowded primary market on Monday, netting $1.1bn from a dual trancher on the back of an impressive $4bn order book.

Days after China made the landmark decision to appoint a US renminbi clearing bank, it has made yet another clear political statement by appointing Industrial and Commercial Bank of China Moscow as Russia’s clearing bank, with a bond market link also in the making.

China Construction Bank Hong Kong, Fantasia Holdings Group and Jinan West City Investment and Development Group were out in full force in the dollar bond market on Tuesday.