Greater China

One of my banker friends had always found Hong Kong to be the most glamorous city because every time he was here for work, he stayed in luxury.

Bank of Zhengzhou has raised HK$5.08bn ($656m) via its Hong Kong IPO after pricing at the floor of its range on Wednesday.

Xinte Energy Co has opened books for one of Hong Kong’s last IPOs of the year, with a little over half of the HK$1.36bn ($175.4m) listing covered by cornerstone demand.

The China Foreign Exchange Trade System (CFETS) published details of an exchange rate index for the renminbi for the first time on December 11. The index is based on a basket of 13 currencies, including the dollar, euro and yen.

Deutsche Bank has appointed Simon Roue to the new position of head of DCM for Asia Pacific.

A $200m equivalent borrowing for Yue Xiu Enterprises has been launched into syndication with one bank at the helm.

Chinese technology firm Tencent Holdings has closed its borrowing at $2.45bn, nearly double the original launch size.

The US Federal Open Market Committee (FOMC) raised federal funds rate for the first time since the financial crisis, opting for a 25bp increase. The move had been widely expected, but analysts are expecting a degree of volatility, at least in the offshore RMB (CNH) markets.

A spate of aggressively structured acquisition loans arranged by Chinese banks, dubbed ‘Chinese TLB’ sent ripples through the syndicated loan market this year. Foreign banks, unable to match terms offered by their Chinese counterparts, are having to deal with shrinking opportunities to finance offshore Chinese M&A, writes Shruti Chaturvedi.

China’s equity markets crashed spectacularly in the middle of the year after an impressive rally, before rebounding again in the last quarter. With the dust now settled, bankers reckon 2016 will be a bumpy but easier year to navigate. Rashmi Kumar reports.

GCL-Poly Energy Holdings and GCL New Energy Holdings are looking to raise a combined HK6bn ($774m) in separate rights issues as they seek to aid each other’s expansion plans.

Short-end CNY swaps have been bid on the weaker CNY trend and the 1s/5s curve slope is flatter. China has expanded its ties with UAE. South Korea issued the first Panda bond by a foreign sovereign, writes Deirdre Yeung of Total Derivatives.