China

Bank of Communications and Agricultural Bank of China priced debut offshore renminbi bonds in Taiwan on Friday, just days after new regulations opened up the market to mainland issuers.

China Vanke became the first triple-B mainland developer to access the offshore renminbi market with the pricing of a five year deal on Wednesday.

Road King Infrastructure attracted more than three times over-subscription for its return to the offshore renminbi bond market on Tuesday.

Bank of Communications is set to become the first Chinese entity to sell an offshore renminbi bond in Taiwan, following the opening up of the market to mainland issuers on Wednesday.

Top 3 Offshore RMB DCM Transactions - 2013 YTD

As Chinese banks face more restricted access to financing in the interbank market, the country’s debt-ridden local governments are poised to take a hit, predict analysts.

In this week’s round up of offshore renminbi news, Taiwan’s FSC opens the renminbi bond market to Chinese issuers, the LME aims to promote RMB-based contracts and the CBRC gives overseas lenders greater access to mainland borrowers.

China Vanke became the first triple-B mainland developer to access the offshore renminbi market with the pricing of a five year benchmark deal on Wednesday.

Bank of Communications is set to become the first Chinese entity to sell an offshore renminbi bond in Taiwan following the opening up of the market to mainland issuers on Wednesday.

Road King Infrastructure attracted more than three times oversubscription for its return to the offshore renminbi bond market on Tuesday.