Greater China

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.

UK-based oil company BP and French gas producer Air Liquide rushed to the dim sum bond market this week, adding some foreign spice to a menu that also featured a debut issue from Hainan Airlines.

Cheung Kong Holdings defied the silence in primary bond markets last week, drawing enough demand from yield-hungry investors to close a senior perpetual bond issue worth S$500m ($415.4m).

Foreign lenders are taking advantage of the robust renminbi business to expand their operations in China’s financial hub; data from the country’s banking regulator shows.

China Citic Bank is planning to raise as much as Rmb30bn ($4.7bn) in the offshore renminbi bond market, adding to a growing pipeline of deals from mainland financial institutions that some investors fear could be hard to swallow.

Sinotrans Shipping is planning to tap the offshore renminbi bond market, and could sell its first-ever international debt issue after finishing meeting with investors at the end of the week.

Sinotrans Shipping is planning to tap the offshore renminbi bond market, and could sell its first-ever international debt issue after finishing meeting investors at the end of the week.

French utility Suez Environnement is considering making its debut in the offshore renminbi bond market, but is still some time away from launching a deal.

Banks and corporations are lining up to sell offshore renminbi bonds, giving investors ample distraction from the woes in the dollar bond market.