Greater China

Chinese broker Citic Securities is out with its first outing since October 2014, having opted for a dual-tranche offering split between a 5.5 year and a 10 year tranche.

Cement producer TCC International Holdings has tapped the market after a two year gap, for a $450m borrowing that will refinance a loan that matures this year.

The Hong Kong Stock Exchange (HKEX) appears to be tightening scrutiny on reverse takeovers and listed shell companies, issuing a guidance note on Friday to vet listing candidates more closely.

The popularity of China’s marquee technology firms is showing no signs of abating, with both Tencent Holdings and Baidu increasing the size of their borrowings following bumper responses.

In this round-up, RMB deposits shrink further in Singapore and Hong Kong, the Stock Connect scheme southbound channel continues to dominate trading, China prepares for direct trading of RMB and Korean won, and Italian enterprises are found to be warming up to the RMB. Plus, a recap of GlobalRMB’s coverage this week.

Commodities trader Noble Group has decided to raise about S$719m ($522m) through a rights issue as it seeks ways to pay off outstanding debt.

Efforts to deepen RMB liquidity in offshore markets have struggled so far, despite the currency’s growing popularity for trade and investment purposes. Yet, it is clear that the success of the currency on a global scale will rely on deepening liquidity and the financial infrastructure that supports it.

Cemex Holdings Philippines has begun gauging investor interest in its IPO, which could raise up to $500m, sources close to the deal told GlobalCapital Asia.

The Hong Kong Stock Exchange will introduce a volatility control mechanism come August, following in the footsteps of global bourses that have implemented circuit breakers.

Tsinghua University Science Park is planning to print what would be its inaugural dollar-denominated green bond, according to a source close to the matter.

The Asia ex-Japan block trade market took flight this week as three overnight share sales priced on Wednesday, two of which were executed by Morgan Stanley and one by UBS.

Dalian Wanda Group has tied up financing totalling HK$30.78bn ($3.9bn) for a HK$34.5bn offer to take its property arm private.