China

Standard Chartered is set to issue its debut Panda bond on December 7. The Rmb1bn ($157m) three year offering will be the first batch out of the total Rmb2bn Panda bond quota the bank has obtained from the People’s Bank of China (PBoC).

Chinese pair Guangdong Rising Asset Management (GRAM) and HNA Group hit the dollar bond market on Wednesday as they look to wrap up their respective fundraisings ahead of the US Thanksgiving holiday.

Tianjin Free Trade Zone Investment Holding Group (Tianjin FTZ) has picked seven banks to arrange its first international bond.

Russian lender VTB is expanding its China offering to meet rising demand from Russian corporates and financial institutions for RMB trade and investment services. GlobalRMB spoke to Alexander Dmitriev, global head of financial institutions at VTB, to discuss the bank’s China strategy and the challenges it faces.

Banks are welcoming plans by the Hong Kong Stock Exchange (HKEx) to solve the outstanding settlement issues for the Shanghai-Hong Kong Stock Connect. The introduction of delivery versus payment (DVP) settlement model from next April also provides business opportunity as brokers seek out more liquidity.

Korea Development Bank (KDB) is returning to a tried and tested formula for its latest offshore renminbi outing, opening books for a single tranche dual-listed bond on November 24.

A $200m loan for China Water Affairs Group has been launched, with the Asian Development Bank providing half the fundraising and the remainder to come from lenders in syndication.

Although a strong dollar persists, Aberdeen Asset Management Asia (Aberdeen) says that Asia is in reasonably good shape and China has been a great investment, particularly onshore market.

A pair of issuers based in southern China – Guangzhou Metro Group and Guangdong Rising Assets Management (GRAM) – are planning to make their respective debuts in the dollar bond market this week.

Bank of Qingdao Co is looking to raise up to HK$5.2bn ($666m) in a Hong Kong listing, with the trade opening books on November 20. This makes it the first of a handful of Chinese city commercial banks to launch their IPOs in the city.

Powerlong Real Estate Holdings returned to the dollar bond market following a hiatus of nearly three years, pricing a $200m deal inside its existing curve.

China Construction Bank (Asia) has priced a two year dim sum amid a market sentiment that is less than favourable for dim sum issuance. However like other recent deals from state-owned banks, this latest trade was driven more by diplomacy than funding needs.