China

CDB Leasing has approached lenders for a $300m fundraising, marking its second outing in the loan market this year.

Chinese regulators jointly released a new set of guidelines to further push financial reform in the Shanghai Free Trade Zone (FTZ) on October 30. The changes aim to accelerate the opening up of capital account and make Shanghai a genuine international financial centre.

China General Nuclear Power Corp (CGNPC) has wrapped up its second dollar deal of the year, using a keepwell agreement this time around rather than a direct guarantee. Despite the less investor-friendly structure, the company saw a huge following and managed to price the notes with little new issue premium.

Beijing Environment Sanitation Engineering Group (BESG) wasted little time with its inaugural international bond, wrapping up a euro-denominated deal before European investors were even able to get a look at it.

Alister Moss, who left the banking industry three years ago, is set to make a comeback by joining Nomura's DCM syndicate team.

In this round-up, Macau’s RMB deposits, SDR review decision drawing close, BRICS NDB and AIIB ready operations, BoC reports on RMB business in first three quarters, and CFETS plans a joint venture with Deutsche Boerse.

China’s newly launched Cross-border Interbank Payment System (CIPS) is fundamental to the internationalisation of the renminbi as it centralises liquidity and will save costs, says Marcus Sehr, global head of institutional cash, global transaction banking at Deutsche Bank.

Singapore-based agricultural products supplier Olam International has raised a $1bn loan from a group of 19 lenders.

Beijing-based boutique investment bank, China Renaissance, has launched a new division to advise companies looking to raise funds in China’s onshore capital markets, expanding the firm’s services to include both its home and overseas markets.

Beijing Automotive Group (BAIC) has priced the second euro-denominated bond by a Chinese auto company, following a recent issue from one of its peers. Seven firms in total were hired as joint global co-ordinators for the €500m ($552m) deal after the issuer added five more banks to the syndicate to reward them for placing anchor orders.

China’s growing securitization market is set for another boost with Bank of Communications (BoCom) poised to become the country’s second issuer of credit card ABS.

United Overseas Bank (UOB) recently hired Ben Chan Ho Fai as the head of RMB solutions, a new unit that the bank set up earlier year.