China

China Development Bank raised Rmb1.5bn ($237m) from a 15 year offshore renminbi bond on Thursday, selling the longest deal in the market this year ahead of the auction of a two tranche deal scheduled for today.

Asset managers are rushing to launch RQFII funds for the Hong Kong market as the State Administration of Foreign Exchange (SAFE) approves new licenses. CICC is the latest, writes Anita Davis

Agricultural Bank of China, China Development Bank and South Korean mall operator Lotte Shopping are planning to sell offshore renminbi bonds over the next few weeks, tapping demand from local investors before funding officials and fund managers alike take an extended break for Chinese New Year.

Shui On Development, the Singaporean subsidiary of a Chinese property company, is meeting investors this week for a planned Singapore dollar bond issue.

Singaporean property developer CapitaMalls Asia is raising the size of its 10 year retail bond offering to S$400m ($309m) after the first tranche of the issue aimed at institutional investors was more than two times oversubscribed.

Royal Bank of Scotland bankers have responded with a mixture of resignation, frustration and impatience to leaks about the strategic review of its investment bank. Sources say the bank envisages a maximum of 5,000 job cuts in its investment bank, half the number reported elsewhere this week.

The three Hong Kong note issuing banks have begun providing offshore renminbi (CNH) HIBOR fixing rates, taking the market one step closer to a functioning CNH interest rate swap curve.

Singaporean property developer CapitaMalls Asia is pitching retail investors with a S$200m ($155m) 10 year bond, and sole bookrunner DBS thinks the deal’s spread over local floating rates will ensure big demand.

Happy New Year to all of our readers! As the New Year begins in Asia’s capital markets, we hope you will take the time to look back to 2011 — and help us find out the best deals, banks and borrowers of the year. Read on for more.

Renminbi cross-border trade settlement has become more attractive and issuance of dim sum bonds have quadrupled since 2010. These provide solid prospects for the future of the CNH, says the Singaporean bank.

China's yuan-denominated lending in November dropped Rmb24.6 billion month-on-month to Rmb562.2 billion, the People's Bank of China announced Wednesday (December 14).