China
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Offshore RMB liquidity is likely to tighten in the coming weeks for several reasons including the newly expanded RQFII programme, easing capital inflows and uncertainty over PBoC policy.
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Hong Kong banks are likely to limit their exposures to Chinese companies by placing a 50% lending cap on total CNH deposits in order to prevent liquidity distortions in the offshore market, says the rating agency. -
In this round up of recent offshore renminbi news, offshore RMB clearing banks offer term deposits, liquidity in Hong Kong rose for the fourth month in a row and ICBC’s president discusses his London ambitions.
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Top 3 Offshore RMB DCM Transactions - 2012 YTD
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Joss Fisher has stepped down as head of equity syndicate non-Japan Asia at Credit Suisse. The bank is still looking for a replacement.
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Taiwanese footwear maker Pou Chen Corp’s NT$10bn five year loan has received plenty of interest from lenders, with two-thirds of the loan already covered by the five bookrunners.
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Chinese property companies have come to the bond market in eye-popping numbers this year. The juicy fees these deals offer mean that few bankers will complain about such a run. But there can be too much of a good thing — and some debt bankers are starting to worry about when the party will come to an end, writes Matthew Thomas.
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The last of China’s five SOEs to receive a quota to issue dim sum is preparing to tap the offshore market. Now regulators must consider how to improve the system before the next round of bond approvals.
