Citi

ICBC priced the first syndicated offshore renminbi bond to be issued by its Sydney branch on July 29. The 1.5 year and three year dual trancher, which the issuer wants to list, will be listed on the Australian Securities Exchange (ASX), marks an important first step for ICBC Sydney as Australia’s status as an offshore RMB hub grows.

Tata Steel closed its first international bond on Thursday, July 24, as it looks to refinance loans from its 2008 acquisition of Corus. Despite pricing on a day when the Indian high yield sector saw $2.4bn of new issues, the trade nonetheless pulled in bids worth $9.1bn.

The World Bank could follow up a series of dollar private placements linked to CMS rates after receiving strong demand for the structure. Other issuers could follow suit as investors bet on the US Federal Reserve increasing interest rates next year.

China’s Xinyi Solar Holdings raised HK$779m ($101m) on July 29, tapping the market for a top-up placement that was well received by investors.

ICBC priced the first syndicated offshore renminbi bond to be issued by its Sydney branch on Tuesday. The 1.5 year and three year dual trancher, which will be listed on the Australian Securities Exchange (ASX), marks an important first step for ICBC Sydney as Australia’s status as an offshore RMB hub grows.

ICBC opened books for the first syndicated offshore renminbi bond to be issued by its Sydney branch on Tuesday. It comes as Beijing looks to designate an official RMB clearing bank for Australia’s largest city by the end of this year.

Bankers now hope to complete a €275m acquisition loan for Bulgarian drugs firm Huvepharma this week after extending the deadline to wait for Moody's and Standard & Poor's to provide ratings.

Sichuan Development Holding, which is wholly owned by the Sichuan government, priced a groundbreaking debut three year offshore renminbi bond on Thursday, July 24. Backed by multiple credit enhancements, the bond is the first CNH issue from a Chinese local state owned enterprise (SOE) to be sold without a quota from China’s National Development and Reform Commission (NDRC).

Tata Steel raised $1.5bn with its inaugural transaction on Thursday, as it looks to refinance loans incurred as a result of its $13.1bn acquisition of Corus in 2008. Despite pricing on a day when almost $2.5bn of new issues was injected into the Indian high yield arena, the trade nonetheless pulled in bids worth $9.1bn.

Shenzhen-based RedCo Properties Group issued initial price guidance for a dollar bond on July 25 in what is its first foray into the debt capital markets.

China Railway Construction Corp (CRCC) priced its debut perpetual bond on July 24. Its investor friendly structure enabled the borrower to price with the lowest coupon of any senior dollar perpetuals from Asia, according to bankers.

The Singapore Exchange’s first golf-focused business trust IPO, Accordia Golf Trust, priced at the bottom of its indicative price range on July 24, raising S$759m ($612m).