Greater China

India is set to welcome its first international green bond of the year, as Jain Irrigation Systems opened books for an up to $250m transaction.

Onshore renminbi bonds have been included in a pair of newly created Bloomberg-Barclays indices as momentum for their eventual inclusion in global benchmarks continues to build steam.

Biostime International ventured out to the debt market on Monday with a tap of its outstanding five year bonds. Thanks to strong momentum, the issuer decided to raise $200m instead of the initial target of $150m.

Hong Kong’s primary equity capital market is in trouble. The city was the top global IPO destination by volume last year — a title it also held from 2009 to 2011. But the market is in the midst of change with disgruntled investors and restrictions on capital outflows from China set to start hitting business. With no fix in sight, the worst is only yet to come.

Shui On Land secured a $500m four year bullet on Monday from an order book more than six times subscribed, showing the continued interest from investors in Chinese property names for the right price.

A growing list of fund managers are seeking access to China's interbank bond market (CIBM), with the likely inclusion of RMB bonds in global indices adding urgency for active and passive investors.

Shanghai Paipaidai Financial Information Service, which operates Chinese peer-to-peer lender Ppdai.com, is eyeing a $200m listing in the US.

Fujian Zhanglong Group Co is tapping its three year notes sold at the end of 2016, taking advantage of one of the last issuance windows before the Lunar New Year.

JP Morgan has boosted its China team with a new senior hire to its emerging markets economic research unit.

Hong Kong’s stock exchange has rejected Chengdu Xingrong Environment Co’s application to list in the city, according to an announcement from the Shenzhen-listed company.

Sinosteel International Holding has approached the loan market for a $120m two year deal. The money is to refinance a loan from 2014, which falls due next month.

Hong Kong Airlines was among the many borrowers that squeezed through a narrow issuance window last week before Chinese New Year. Its first senior perpetual, which has been sometime in the making, soared with strong private bank demand.