Greater China

Export-Import Bank of India took advantage of reverse enquiry from Taiwanese investors to sell its debut dollar Formosa bond, marking only the second Formosa from the south Asian country and the first from an Indian bank.

Agile Group Holdings has sold a $200m deal off a robust $2.5bn book, with yield-hungry investors allowing the company to price the notes flat to recent double-B rated real estate bonds.

LVGEM (China) Real Estate Investment Company and HNA Group company Tianjin Tianhai Investment Co are wooing buy-side accounts. The former opened books for its debut on Tuesday and the latter is understood to be holding investor meetings.

One of the most promising vehicles for moving the financial system on to a greener path – risk management – is gathering momentum.

Quam’s rights issue to raise HK$5.1bn ($656.2m) was under-subscribed, forcing its underwriters to cover the HK$1.2bn shortfall.

China’s banking regulator has given Postal Savings Bank of China Co the go-ahead to raise additional tier one capital offshore, adding to the hefty issuance pipeline from the country’s commercial banks.

Export-Import Bank of India is poised to make its debut in the dollar Formosa market, becoming only the second borrower from the south Asian country to sell a bond in Taiwan.

Agile Group Holdings is marketing a five non call three year dollar bond to refinance part of its outstanding $500m notes from 2014.

In this round-up, an ex-IMF economist says China needs an independent central bank, the People’s Bank of China considers changing the RMB trading band, and trade between China and Africa surges in the first half of the year.

eHi Car Services snapped up $400m from the only dollar bond from China on Thursday, managing to tighten pricing by 37.5bp.

Deutsche Bank is arranging an up to $150m syndication for water purification company Ozner Water International Holding, said bankers.

Bank of China and China Construction Bank have picked new chairmen, BOC’s asset management arm received its first batch of qualified foreign institutional investor (QFII) quotas, and the Ministry of Finance published new guidelines to restrict foreign investments by state-owned enterprises.