Greater China

Unrated China Minsheng Investment (CMI) successfully raised $500m through a bond on Wednesday, pricing the trade near fair value despite the absence of relevant comparables.

Allocations are out for a HK$8bn ($1bn) fundraising for Lifestyle International Holdings, which operates Sogo department stores.

CDB Capital generated close to $4bn in demand for its debut bond on Tuesday, raising $500m. Despite some bankers having said the trade had a weaker structure than its comparable, robust demand from onshore accounts allowed the issuer to price through fair value.

Clearstream is looking to better connect global investors to China’s interbank bond market (CIBM) with a link set to launch in October. The firm is also working on a joint venture (JV) with the China Foreign Exchange Trading System (CFETS) to launch a bond exchange in Europe, GlobalRMB has learned.

Former JP Morgan banker Ed Tsui is joining Deutsche Bank as head of debt syndicate, Asia, according to an internal memo seen by GlobalCapital Asia.

UBS Asset Management has appointed Hayden Briscoe as head of fixed income for Asia Pacific.

CDB Capital, a wholly-owned subsidiary of China Development Bank Corp, is looking to raise as much as $500m from a new deal while unrated China Minsheng Investment Corp has returned for a three year bond, with both relying on keepwell structures.

The short-end of the CNY NDIRS curve is continuing to outperform the longer maturities as the PBoC keeps the financial system liquid ahead of month-end. Sources are wary ahead of this week's FOMC and BOJ announcements but say firmer domestic data could back more steepening momentum near-term, writes Deirdre Yeung of Total Derivatives.

China’s Fenghui Leasing Co obtained a first-time rating on Tuesday ahead of its offshore debut in dollars while India’s Adani Transmission has ditched a potential Masala bond in favour of just selling dollars.

The International Swaps and Derivatives Association has published a ‘clearing classification letter’ that will enable derivative counterparties to notify each other of their status for clearing requirements under Hong Kong’s mandatory clearing regime.

Rabobank has hired a banker for its loan syndications team in Hong Kong, replacing Kitty Leung who left the firm earlier this year.

The Hong Kong Stock Exchange (HKEX) has released new research, which it hopes will dispel the long-held belief that equities in the city are undervalued when compared to shares on the Mainland.