Greater China

China Oriental Group has announced a consent solicitation as well as plans to buy back all or a portion of its existing bonds, following a profit warning sent to its shareholders.

After almost five years, Hong Kong has recognised Russia as an accepted jurisdiction for issuers looking to list in the city. But whether the ties would be a game-changer for Asian equity capital markets is a big question, writes Philippe Espinasse.

Despite the terrible start for China’s equity market this year, primary issuance has kicked off with a bang. Year-to-date A-share equity capital market volumes are at a record high, with follow-on offerings leading the way.

One of China’s big four banks, Agricultural Bank of China, is seeking shareholder approval to issue Rmb80bn ($12.16bn) worth of Basel III tier two capital notes in the period up to the end of 2018.

Chinese hospital group Phoenix Healthcare has terminated an undrawn $150m loan raised in February 2015 due to the instability in the foreign exchange rate.

A former Commerzbank banker has resurfaced as a member of National Australia Bank’s Asia DCM team.

In a break from the consensus, CLSA’s equity strategist, Christopher Wood, said the renminbi will be stable this year against the new trade-weighted basket introduced by the central bank. However, he viewed the introduction of the offshore renminbi (CNH) as a mistake as shown by the huge amount of reserves spent to defend the currency.

Hua Han Health Industry Holdings is eyeing the international bond market for the first time, having mandated one bank to work on a dollar-denominated deal.

GF International Investment Management has promoted Tom Ding to the position of chief executive officer, the Chinese asset manager announced last Friday.

Only one lender is understood to have made a commitment to join China Shengmu Organic Milk’s $120m three year facility, which has been in syndication since December.

In this week’s round-up, Taiwan report rise in RMB deposits, investors hand back QFII quotas, JP Morgan Asset Management launches three MRF funds, calls for China to communicate better from Ben Bernanke and Christine Lagarde. Plus, a recap of GlobalRMB's top stories this week.

Waste to energy firm Jinjiang Environmental is planning an IPO in Singapore to raise up to $500m in the first half of the year, according to sources close to the transaction.