China

Investors poured into Tianjin Free Trade Zone Investment Holding Group’s (Tianjin FTZ) debut dollar bond this week, helping the state-owned company raise $500m with a more than seven times covered order book.

Standard Chartered (StanChart) has cut its Americas and Europe RMB solutions teams in recent months, according to a source. The bank has recently begun a global restructuring process.

Tsinghua Unigroup started taking bids for a dual-tranche dollar offering on Thursday, which if printed would be the first offshore bond from the issuer.

A symbolic rather than market changing move is the general view of the renminbi’s inclusion into IMF’s Special Drawing Rights (SDR) basket. However, many analysts believe impact could be profound if China is willing to take the real test reforming its domestic financial markets.

China Tian Lun Gas Holdings has increased the size of its loan to $250m from the launch size of $150m as strong demand from banks led to an oversubscription.

Tianjin Free Trade Zone Investment Holding Group (Tianjin FTZ) hit the market for its first dollar bond on December 2.

Real estate developer Country Garden Holdings is asking for consent to modify the terms and conditions of its outstanding dollar bonds.

eHi Car Services finally made its debut in the international bond market, raising $200m from a three year bullet on Tuesday. After its first attempt at a deal failed in August, it decided to pay up this time to ensure success.

Chinese property developer Golden Wheel Tiandi Holdings printed its inaugural dollar bond on December 1, raising $100m from a trade driven by reverse enquiry.

The Dubai Gold and Commodities Exchange (DGCX) is set to launch trading of offshore RMB (CNH) futures contracts on December 18. The exchange is looking to leverage the RMB’s new-found status as an SDR currency, it told GlobalRMB.

Asset manager AllianceBernstein is offering a drastically different view on the knock on effects from the renminbi’s inclusion in the IMF’s Special Drawing Rights (SDR) basket. While the consensus is that it will have little impact on the desirability of RMB assets, the manager is forecasting a huge spike in demand.

The Chicago Board Options Exchange plans to launch options on the FTSE 100 and FTSE China 50 indices before the end of the year.