Greater China

China Overseas Finance Investment (Cayman) V has opened books on a $1.2bn equity-linked offering of bonds exchangeable into shares of China Overseas Land & Investments.

Ford Auto Finance (China) executed its second auto ABS of the year this week, raising Rmb2.99bn ($467m) with Fuyuan 2015-2 Retail Auto Mortgage Securitization. The amount raised was similar to its last outing in February, but Ford was able to cut its funding costs by an impressive 140bp.

India’s Dewan Housing Finance held a non-deal roadshow in Taipei on December 9 just a few weeks after sealing an offshore dollar loan.

The People’s Bank of China (PBoC) has suspended the Renminbi Qualified Domestic Institutional Investor (RQDII) investment scheme after giving 'window guidance' to onshore custodian banks, two sources have told GlobalRMB.

The RMB seems set to weaken further despite the IMF's decision to give the currency reserve status on November 30. However, experts agreed a weaker RMB will not stop it from gaining ground as a global currency.

Chinese brokerage house Everbright Securities is eyeing a listing in Hong Kong, having filed a preliminary prospectus on Tuesday with the city’s bourse.

China Construction Bank (CCB) has launched what is most likely to be the last high profile bond of the year in Asia, opening books for a dollar-denominated additional tier one offering on December 9.

In a showpiece for China’s reform of its state-owned firms, Postal Savings Bank has raised Rmb45.1bn ($7bn) from pre-IPO investments, bringing in a marquee list of 10 strategic investors.

A $150m three year loan for Ye Chiu Group subsidiary, Harmony Group, is likely to be cut in size after meeting a lukewarm response during general syndication.

The IMF changed the weighting formula for its Special Drawing Rights basket ahead of the inclusion of the renminbi last month. However, using the old SDR formula to determine Chinese currency’s weight would have been preferable, according to a former IMF official.

Bank of Zhengzhou has signed on about six cornerstone investors to anchor the bulk of its HK$5.56bn ($717.42m) IPO in Hong Kong, as the leads look to kick off bookbuilding on a strong note.

Deutsche Bank’s head of Asia fixed income capital markets, Herman van den Wall Bake, has left the bank, sources close to the move confirmed.