China

The pace of borrowing in offshore renminbi is accelerating, but public markets remain closed, meaning MTN issuance is dominating in the currency.

Poland is considering a Panda bond issue, and is hoping to meet investors in China in the second quarter of this year for the deal, according to a source in Poland’s Ministry of Finance.

The Chinese Panda bond market is starting to heat up with a slew of corporates in the midst of preparing their respective trades.

A pair of Chinese regional lenders, China Zheshang Bank and Bank of Tianjin, have created a stir in the market, pricing the year’s two largest IPOs globally. The firms raised a combined HK$20.4bn ($2.6bn) and pushed Hong Kong’s stock exchange to the top spot for primary market volume so far in 2016.

Mercedes-Benz Auto Finance has become the latest international name to make its debut in the China auto ABS market, executing a tightly priced Rmb2.5bn ($385m) trade on Tuesday.

Russia is making preparations to sell an offshore renminbi bond, its debut in the currency and the government’s first international bond since 2013. But with sanctions still in place and renminbi liquidity limited in Russia, the sovereign is planning to ask China to relax one of its outbound investment schemes so that mainland investors can buy the deal.

China's Fosun International is planning to spin off and list wholly-owned insurance subsidiary Ironshore, according to a filing with the Hong Kong Stock Exchange.

Asia's debt market was crowded on Wednesday with three issuers on the hunt for their respective fundraisings ahead of the Easter holiday.

HSBC reigns supreme for the fifth year running as the best overall provider of offshore RMB products and services in the largest and most competitive Offshore Renminbi (RMB) Poll.

In the past week, two Chinese officials have publically acknowledged the possibility of a tax on foreign exchange (FX) transaction to curb capital outflows. Although details on the initiative still scant, views are diverging about whether it is a good measure against foreign speculators or will end up back firing.

Less than two months after Shanghai Pudong Development Bank became the first domestic green bond issuer in China, the lender is set to revisit the market on Friday with a Rmb15bn ($2.3bn) offering.

China Zheshang Bank has net HK$13bn ($1.7bn) after wrapping up the world’s largest IPO so far in 2016, but had to price low to stay in line with investor interest.