China

Australia and New Zealand Bank and Crédit Agricole have beefed up their respective Asian loans teams with new appointments.

BoC Aviation has notched up a new landmark for Asia by becoming the first issuer from the region to sell an aircraft leasing ABS. Market observers are buoyed by the landmark transaction and hope it will spur similar deals from Asia and particularly China, writes Rev Hui.

The next stage of RMB internationalisation needs to focus on improving the connectivity between the onshore and offshore market to improve liquidity. This could be done encouraging more foreign entities to raise funds through Panda bonds and providing more offshore investment routes for onshore RMB, says Zhang Weiwu, general manager of ICBC Singapore, to GlobalRMB.

Beijing Environment Sanitation Engineering Group Co (BESG) has mandated banks ahead of launching a roadshow next week in Asia and Europe.

BoC Aviation has swooped into the syndicated loan market for a $300m unsecured transaction, launching the deal with four banks at the top.

Activity in Asia’s secondary loan market has picked up over the past few months as banks seek to manage their portfolios more efficiently. This is attracting intermediaries such as fixed income specialist SC Lowy, which has set up a par loan trading business in the region. But while there are opportunities, there are also plenty of challenges holding back growth in the nascent market, writes Shruti Chaturvedi.

Short-end CNY swaps have been well offered on yuan strength and weak Chinese data today. Looking ahead, gradually improving risk sentiment is expected to back paying in mid-sector swaps and a steeper 1s/5s NDIRS curve slope, writes Deirdre Yeung of Total Derivatives.

The Republic of Korea has sent out a request for proposals for an offshore bond to be issued as early as this month.

China’s securitization market has disappointed this year with volumes so far failing to reach even half the Rmb500bn ($79.2bn) quota. But what the numbers don’t show is the amount of progress that has been made to develop the market — progress that will ensure a bright future for the asset class.

Volatility in futures and options markets for US grains has abated after data from the US Department for Agriculture indicated a potentially weaker harvest cycle.

BoC Aviation has soared into the syndicated loan market for a $300m unsecured borrowing, launching the deal with four banks at the top.

Agricultural Bank of China (ABC) priced a landmark transaction this week, raising approximately $1bn from a dual-currency, triple-tranche bond. Not only was this China’s first financial green bond, but ABC was also the second bank from the country to sell notes in London in as many days, setting the stage for president Xi Jingping’s visit to the UK next week. Rev Hui reports.