Greater China

Kunming Dianchi Water Treatment Co has started pre-deal investor education for a Hong Kong IPO that could raise $200m, according to a source close to the transaction.

Shandong Yuhuang Chemical Co sealed an inaugural international bond on Monday, finding sufficient demand thanks to a conducive market backdrop, coupled with the rarity factor of being a Chinese non-property name raising funds.

The performance of the Asia bond market over the past couple of weeks, despite the macro moves elsewhere, has shown that it can drive forward independently of events in the west. With European and US political volatility waiting in the wings, Asian DCM’s self-sufficiency bodes well.

The Hong Kong Stock Exchange (HKEX) launched USDCNH options on March 20, the first currency options to trade on the exchange. Together with HKEX’s USDCNH futures contract, the new product will give investors an alternative in managing renminbi exposure.

Two senior bankers at Credit Suisse in Hong Kong have left, according to sources close to the matter.

Hong Kong-listed Fortune Real Estate Investment Trust has tied up a HK$1.2bn ($154m) syndicated loan arranged by Sumitomo Mitsui Banking Corp.

Emperor International Holdings is gearing up for a new dollar bond, hiring nine firms to work on the transaction, while Japfa Comfeed Indonesia is looking for fresh funds to partly redeem its 2018s.

China Evergrande Group dashed into the market last Friday, securing a $1.5bn deal across two tranches before investors shut down for the weekend.

The China Banking Regulatory Commission (CBRC) has taken a further step towards opening up the country’s financial sector, allowing foreign and joint venture banks to invest in domestic banking financial institutions.

Min Xin Holdings is looking to raise HK$827m ($107m) via a rights issue to pay down bank borrowings, according to a filing made after markets closed last Friday.

Korea National Oil Corp (KNOC) is selling a combination of floating and fixed rate bonds, with price thoughts for a five and a 10 year released at the same level. On the high yield side, China’s Shandong Yuhuang Chemical Co is marketing its debut three year notes.

Pre-marketing for Asian IPOs picked up in earnest on Monday, with Guotai Junan Securities Co’s $2bn listing in Hong Kong among those vying for investor attention.