China

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.

DBS Group Holdings launched its first Basel III compliant tier one issue at the bottom of the target range after holders of S$1.1bn ($878m) of its old-style tier ones responded to a tender offer.

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

Singapore-listed property developer GuocoLand priced a S$125m ($99.9m) three year bullet to yield 3.55% on Monday, November 25.

Korean steel giant Posco is making a rare foray into overseas bonds markets with a dual tranche Samurai transaction. The deal marks the first time the borrower has issued outside its domestic currency since 2011.

The State Administration of Foreign Exchange continues to be an obstacle for foreign debt issuers and investors looking to gain greater access to China’s onshore market, even as other regulators are easing up.

RMB volatility is low despite the liberalisation of FX policy and flow channels. This cements the idea the RMB is on a one-way appreciation track, making it harder for China to bring in greater reform.

Dalian Wanda is the first Chinese corporate to issue a bond equipped with a more investor-friendly keepwell agreement under new PBoC rules that allow intercompany loans.

BOC Aviation launched a surprise tap of its debut dim sum bonds on Thursday morning after receiving good reverse enquiry for its name after a strong performance in the secondary market.

Industrial and Commercial Bank of China this week brought the biggest dim sum bond sold in Singapore. More than 50% of the Rmb2bn ($328m) two year bond went to Singaporean investors, a result that was seen as a solid sign of growth for the new dim sum market and likely to prompt more Chinese banks to follow suit.

China Construction Bank (CCB) is planning an international tier two bond and is aiming to bring its deal before the end of the year, according to investors. The borrower has not decided on a currency, but one fund manager is expecting a benchmark dollar deal in December.

Expectations were low for China’s third plenum to come up with any concrete and meaningful reforms to the country's economy. But the 200-plus members of the Communist party’s central committee have surprised everyone with the depth and breadth of their plans which have the potential to turn China into a free market economy.