China

French gas producer Air Liquide closed an Rmb850m ($133m) seven year bond late last week, getting reverse enquiry demand from investors after it sold a larger five year issue in the public market.

Japan’s automaker Nissan Motor has mandated two banks to handle a potential dim sum bond deal. HSBC and Standard Chartered are taking the company to meet with investors in Hong Kong and Singapore next week.

China needs to deliver greater clarity over how renminbi raised in Hong Kong can be moved onshore, says a financial official at a company that has raised money in the currency offshore.

US fast food company Yum! Brands is meeting investors this week ahead of a potential offshore renminbi bond, adding to a growing supply of foreign companies considering making their debuts in the market.

French gas producer Air Liquide closed a Rmb850m ($133m) seven year bond late last week, getting reverse enquiry demand from investors after it sold a larger five year issue in the public market.

Taiwan’s Advanced Semiconductor Engineering made its debut in the offshore renminbi bond market last week, selling a dual-tranche deal that got a lot of demand from Taiwanese corporations — and capped a busy week in a market that has become something of a haven for battered bankers and investors.

Various foreign borrowers are tapping the offshore renminbi bonds in Hong Kong this week, adding needed-variety to the city’s offshore renminbi bond market.

The UK capital intends to become the next offshore renminbi centre and some observers feel that it could beat Singapore to this goal, although approval could be some way away.

Asiamoney PLUS provides a quick overview of what it means to set up an offshore renminbi trading centre, following news about the City of London’s ambitions.

British-based oil company BP made its debut in the offshore renminbi bond market this week, lining up an approval from the Chinese government to remit the proceeds before it pushed ahead with the Rmb700m ($109.4m) deal.