Greater China

Tianjin Free Trade Zone Investment Holding Group (Tianjin FTZ) hit the market for its first dollar bond on December 2.

American car rental company Hertz has trimmed some more of its stake in China Auto Rental (CAR) via a HK$1.05bn ($135m) overnight block, with the trade priced at the bottom of guidance to ensure the secondary performance held up well.

Real estate developer Country Garden Holdings is asking for consent to modify the terms and conditions of its outstanding dollar bonds.

eHi Car Services finally made its debut in the international bond market, raising $200m from a three year bullet on Tuesday. After its first attempt at a deal failed in August, it decided to pay up this time to ensure success.

Modern Dental Group has opened books for its HK$1.23bn ($158.71m) IPO in Hong Kong and plans to woo institutional investors by placing only a small portion of the trade with one cornerstone investor.

Chinese property developer Golden Wheel Tiandi Holdings printed its inaugural dollar bond on December 1, raising $100m from a trade driven by reverse enquiry.

The Dubai Gold and Commodities Exchange (DGCX) is set to launch trading of offshore RMB (CNH) futures contracts on December 18. The exchange is looking to leverage the RMB’s new-found status as an SDR currency, it told GlobalRMB.

Asset manager AllianceBernstein is offering a drastically different view on the knock on effects from the renminbi’s inclusion in the IMF’s Special Drawing Rights (SDR) basket. While the consensus is that it will have little impact on the desirability of RMB assets, the manager is forecasting a huge spike in demand.

The Chicago Board Options Exchange plans to launch options on the FTSE 100 and FTSE China 50 indices before the end of the year.

Ford Auto Finance (China) is preparing for what is set to be the last auto ABS from China this year with the Rmb2.99bn ($469m) Fuyuan 2015-2 Retail Auto Mortgage Securitization due to go live on December 7.

Chinese debt houses have gained market share this year thanks in no small part to the power of their balance sheets. While competitors have long criticised Chinese banks’ willingness to use capital to win a place on deals, there’s little reason to stop an approach that is clearly reaping rewards.

Bank of Jinzhou has raised HK$6.15bn ($794m) from its IPO in Hong Kong, pricing the stock near the bottom of the range as investors remain cautious about Chinese city commercial lenders.