Greater China

A unit of e-commerce platform Cogobuy Group has launched a $100m borrowing into general syndication via a single mandated lead arranger and bookrunner.

Link Real Estate Investment Trust brought the first green bond from a Hong Kong corporate on Thursday, printing $500m worth of notes at a level that was considered fair value among investors.

China is continuing its push to establish the renminbi as an investment currency by opening up its private fund industry to wholly foreign-owned firms. While this is likely to spark plenty of interest, market participants said foreign asset managers need to be ready to launch even before registering for a licence.

ICBC Asia made its debut in the additional tier one market on Thursday with a bang, netting $1bn from a deal that boasted the lowest coupon on record for an AT1 in Asia ex-Japan.

Bank of Communications, China’s fifth biggest bank, is mulling an IPO of its investment banking arm in Hong Kong, issuing a request for proposals for a possible $300m listing, sources said.

In this round-up, Singapore Exchange reports strong trading of RMB currency futures, China’s RMB cross-border trade settlement jumps and sales under Mutual Recognition of Funds (MRF) pass Rmb2bn in May. Plus, a recap of GlobalRMB's coverage this week.

Hospital operator Guangdong Kanghua Healthcare Co has filed for approval to float on the Hong Kong Stock Exchange, joining a group of its Chinese peers opting to list in Hong Kong.

China Railway Group, China Minmetals Corp and Greenland Hong Kong Holdings are set to hold roadshows with investors next week ahead of their respective dollar offerings.

Tencent is sounding out banks for yet another multibillion dollar borrowing, this time to back its acquisition of mobile game maker Supercell. The Chinese technology company is used to getting an easy ride in the loan market, where it has raised $6.89bn since December. But the structure for the latest deal means it will have to pay up to lure banks, writes Shruti Chaturvedi.

Kunlun Energy Co printed a Rmb3.35bn ($500.99m) convertible bond this week that was settled in US dollars, but came with a rare rating that soothed fears about the renminbi's possible depreciation.

The Brics New Development Bank (NDB) is gearing up for its debut capital market appearance and is expected to price a renminbi denominated green bond on Monday. The trade is just the start of its funding ambitions, as the supranational seeks an international rating to tap G3 markets, its chief financial officer told GlobalRMB. Paolo Danese reports.

Baoxin Auto Group has opened up three more levels of participation for its $550m dual-tranche financing after launching the senior phase a month ago.