Greater China

Fixed income specialist SC Lowy and UOB Asset Management are set to launch a $400m CLO that will consist predominantly of bank loans from Asia Pacific issuers.

Citi has decided to sell its stake in China Guangfa Bank (CGB) in a bid to refocus its resources on other parts of its China business.

A group of 10 banks is in discussions with semiconductor firm Micron Technology for a NT$80bn ($2.5bn) loan to back its acquisition of Taiwan’s Inotera Memories.

Union Medical Healthcare covered the institutional tranche of its HK$951m ($122m) IPO on the first day of bookbuilding, with the deal driven by orders from Asian accounts.

With foreign ownership of Chinese bonds still at very low levels, the decision to open China’s interbank bond market (CIBM) could truly alter global investment strategies. But, at least for now, the devil will be in the details, with analysts saying that foreign ownership is unlikely to surge in the short term.

The renminbi held a steady second place as the currency of choice for payments between Malaysia and China and Hong Kong, as the usage of dollar continued to dominate, according to the latest RMB Tracker from Swift.

China Development Bank Financial Leasing Co is looking to raise as much as $1bn with a Hong Kong IPO in the first half of 2016, according to a source with knowledge of the plan.

The China Securities Regulatory Commission (CSRC) has denied rumours that it was set to implement the registration-based system for IPOs in March after another volatile period of trading last week.

China Oriental Group completed a buy back of a portion of its outstanding dollar bonds this week with the transaction closing at a tender rate of 28.9%.

Jiayuan International Group has opened books for a HK$1.12bn ($144.16m) listing in Hong Kong, with the Chinese property firm marketing the IPO at a huge discount to its net asset value.

A $430m five year loan for Baring Private Equity Asia’s acquisition of cosmetics packaging company HCP Global has launched into general syndication.

China’s state-owned Jiangxi Copper Company is lining up an A-share and H-share placement to raise a combined Rmb7bn ($1.07bn), according to a filing with the Hong Kong Stock Exchange.