Greater China

A €630m ($683.6m) facility for a unit of China National Chemical Corp has been allocated, with a dozen banks coming in during general syndication.

Industrial and Commercial Bank of China (ICBC) London has become the lender’s third branch to issue a dollar bond in just over a month. This is part of the issuer’s plans to ramp up its presence in the international debt market with bankers expecting more of its branches to join in.

The China Foreign Exchange Trade System (CFETS) published the 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, with the dollar, euro and yen taking the lion's share.

YiChang HEC ChangJiang Pharmecutical Co has settled on a price range for its H-share float, with bookbuilding to kick off on December 14.

China Zheshang Bank is following the recent slew of Chinese lenders listing in Hong Kong, having filed a preliminary prospectus with the city’s stock exchange on Thursday.

Industrial and Commercial Bank of China’s London branch started receiving bids for a three year bond on December 11, in what is the third dollar deal by a unit of the Chinese lender in just over a month.

Airport Authority Hong Kong (AA) has tied up a HK$5bn ($645m) five year fundraising with a group of 21 banks that were undeterred by the sub-100bp pricing.

In this round-up, RMB futures trading on international exchanges picked up in November, RMB clearing in Hong Kong picked up in the same month, ICBC is working on a Belt and Road financing venture, and Deutsche Bank helped a German corporate set up centralised RMB treasury functions in China. Plus, a recap of GlobalRMB’s top stories this week.

China Overseas Finance Investment (Cayman) V raised $1.5bn from an extremely popular exchangeable bond on Wednesday, with the order book swelling to twice that amount.

China’s Panda bond market is gaining plenty of traction with Standard Chartered becoming the third foreign bank to sell notes in the onshore renminbi market this year. And with a pair of sovereign issuers eager to launch their deals, the asset class is set to soon eclipse dim sum bonds, writes Rev Hui.

Citic Securities, one of China's top brokerages, is in the headlines for the wrong reasons again after two of its top bankers went missing.

CRCC High-Tech Equipment Corp has raised HK$2.8bn ($360m) from a Hong Kong IPO after pricing near the floor of its range.