China

The Chinese securitization market’s growing comfort with auto ABS was on show last week when Dongfeng Nissan Auto Finance was able to double the amount it was able to raise compared to its most recent outing in 2015.

Biostime International Holdings and Xuzhou Economic and Technology Development Zone State-Owned Assets Management (Xuzhou ETDZ) are gearing up for what will be their first outings in the international bond market.

Chinese broker Citic Securities is out with its first outing since October 2014, having opted for a dual-tranche offering split between a 5.5 year and a 10 year tranche.

Cement producer TCC International Holdings has tapped the market after a two year gap, for a $450m borrowing that will refinance a loan that matures this year.

The popularity of China’s marquee technology firms is showing no signs of abating, with both Tencent Holdings and Baidu increasing the size of their borrowings following bumper responses.

In this round-up, RMB deposits shrink further in Singapore and Hong Kong, the Stock Connect scheme southbound channel continues to dominate trading, China prepares for direct trading of RMB and Korean won, and Italian enterprises are found to be warming up to the RMB. Plus, a recap of GlobalRMB’s coverage this week.

Tsinghua University Science Park is planning to print what would be its inaugural dollar-denominated green bond, according to a source close to the matter.

Dalian Wanda Group has tied up financing totalling HK$30.78bn ($3.9bn) for a HK$34.5bn offer to take its property arm private.

Industrial and Commercial Bank of China has appointed Yi Huiman as its new chairman, replacing Jiang Jianqing who is retiring, having tendered his resignation on May 31.

Bank of China (BOC) and China Merchants Bank (CMB) have completed China’s first non-performing loan securitizations in more than eight years.

Jiangxi Copper Co is seeking shareholder approval for a pair of private placements in the Chinese and Hong Kong stock markets, according to a filing on Tuesday.

A $12.7bn jumbo Asia-focussed loan to back China National Chemical Corp’s acquisition of Syngenta is “pretty much done”, with several lenders that joined the preceding European syndication reappearing, according to a source close to the situation.