Greater China

Weak Chinese manufacturing data and a stronger yuan have steepened the CNY rates curve. RRR cut bets have helped the 2-year sector outperform. Sources see scope for further steepening across the 2s/10s slope, writes Deirdre Yeung of Total Derivatives.

Everbright Securities kicked off pre-deal investor education on Monday for its over $1bn IPO in Hong Kong, with the recent recovery in markets expected to bolster demand for the transaction.

Sunshine 100 China Holdings hauled a $200m convertible bond over the line on July 28, enticing investors with one of the highest yields on equity-linked debt in the region this year.

A single Chinese lender will help fund a take private of Hong Kong-listed Peak Sport Products, according to an exchange filing.

China’s fifth largest lender Bank of Communications Co has mandated leads for the Hong Kong listing of its investment banking arm BoCom International, which is likely to raise $300m, according to sources familiar with the matter.

Shanghai Fosun Pharmaceutical Group has roped in two lenders for an $800m financing to support its acquisition of Indian firm Gland Pharma.

Home building materials maker China Lesso Group Holdings will likely increase the size of its latest borrowing, thanks to a good response during general syndication.

In this round-up, growing Singapore-Chongqing ties, RMB qualified foreign institutional investor (RQFII) adds Singapore entity, and Bank of China’s RMB Index sees an uptick in May. Plus, a recap of GlobalRMB’s coverage this week.

Asia has had a good run of green bond issuance this year, but its contribution to global volumes slowed in the second quarter. Market participants are now calling for bigger participation from governments in the region to inject some momentum into an asset class that is facing multiple headwinds. Narae Kim reports.

Call me old-fashioned, or just plain old, but I have a hard time understanding the modern obsession with phones. And I cannot help but feel sorry for those who just can’t free themselves from the shackles of technology — even when they want to.

Despite the technical challenges, it seems likely that People’s Bank of China (PBoC) will give the green light to a bond denominated in IMF special drawing rights (SDR) before the G20 summit in early September.

Beijing Enterprises Water Group (BEWG) sold its debut Panda bond on Tuesday raising Rmb4bn ($600m), in only the third publicly sold Panda debt in China’s exchange market.