Greater China

Hong Kong financial investment firm Sun Hung Kai completed a $361.6m exchange plus new money offering on Monday that was mostly gobbled up by the city’s private bank accounts.

The Hong Kong Exchange (HKEX) has announced the launch of the first RMB global currency index, with a new line of RMB currency futures approved for take off on May 30.

China’s Ministry of Finance has confirmed it will issue an offshore renminbi bond in London with the trade expected to launch soon.

The China Securities Regulatory Commission (CSRC) has confirmed that authorities will respect the beneficial ownership right of foreign investors, crossing another item off the to-do list for A-shares to be included global indices.

David Ratliff joined BNP Paribas as its head of financial institutions coverage for Asia Pacific on Monday, about two months after resigning from Citi.

Kaisa Group Holdings has finally struck a deal with creditors over the restructuring of its offshore debt, marking the end to one of the longest-running Asian capital markets saga in recent years.

Biostime International Holdings has begun syndication on a refinancing of a $450m bridge loan taken last year to fund its A$1.386bn ($995m) acquisition of a controlling stake in Swisse Wellness.

Chinese textile manufacturer Ningbo Shanshan Co has won approval from its board to take a pair of its subsidiaries public in Hong Kong, according to a filing with the Shanghai Stock Exchange.

The CNY NDIRS curve is steeper on mid-sector paying interest and currency- and fixing-related strength in the short-end. Soc Gen sees the CNH CCS-CNY NDIRS spread widening. Meanwhile, China City Construction is planning to redeem an existing dim sum bond, writes Deirdre Yeung of Total Derivatives.

China Huarong Asset Management is looking return to the offshore bond market this month, while Sri Rejeki Isman (Sritex) has announced plans for a new international deal alongside a cash tender offer of its existing notes.

Chinese property developer Powerlong Real Estate Holdings has inked a $120m term loan with three banks to refinance its existing notes.

Axis Bank is on track for its debut green bond, marking the third dollar green offering to be sold by an Indian borrower.