Greater China

China’s Hua Xia Bank raised Rmb4.4bn ($644m) of subordinated debt in China’s domestic bond market at the end of last week, highlighting the growing appeal of the country’s bank capital market as Bank of China lined up a deal worth almost Rmb25bn.

Temasek Holdings, Singapore’s state-owned investment fund, returned to its domestic market for the second time this month, raising S$1bn ($709m) in a response to runaway demand for its most recent deal.

Barclays Capital’s Asian expansion into investment banking, prompted suggestions that it could be distracted from its traditional focus on credit. A string of debt mandates refutes those charges, but rivals are growing stronger and fees are under pressure. Andy Jones, Barclays Capital’s co-head of global finance and risk solutions in Asia Pacific, tells Matthew Thomas how he hopes to get one up on the competition without getting into a fight.

Export-Import Bank of India raised $300m this week from a neatly executed international bond, paving the way for other Indian issuers, such as Bank of Baroda, to access the debt capital markets.