Greater China

Beijing Enterprises Water Group has returned to the international loan market for a $200m deal, which comes with a $100m greenshoe. The money is being raised under the International Finance Corp’s A/B programme, with the supranational as lender of record.

CNY swaps have been offered on weak inflation data and the curve is steeper. South Korea is planning a Panda bond issue. PBoC has allowed the CHF/CNY currency pair to trade directly in the FX market, writes Deirdre Yeung of Total Derivatives.

The IPO of Dali Foods has become a talking point among bankers that admire what they reckon is the first true bookbuilt equity transaction in Hong Kong in a long time. Their enthusiasm is rightly placed and the company’s tactic is positive for the rest of the year’s pipeline.

Enterprises in countries along the Belt and Road (B&R) initiative are on divided on the RMB’s chance of becoming a truly international currency, a Bank of China (BoC) survey published this week found.

Korea’s Asiana Airlines has swooped into the syndicated loan market for a $150m deal, picking two banks to run it.

The Financial Stability Board released the final term sheet for its Total Loss Absorbing Capacity (TLAC) proposals on Monday, projecting that compliance with the rules will cost the world’s biggest banks more than €1tr. Big banks in China, which were exempted from TLAC rules in last year's draft plan, have furthest to go.

China has decided to resume domestic listings following a ban of nearly four months, as the country’s stock markets regain some confidence following a dramatic summer rout. Alongside the reopening, China’s regulator has also announced changes to its IPO framework.

Singapore has received a new batch of initiatives to strengthen cross-border renminbi flows and capital market connectivity with China which will support greater use of the RMB outside the Mainland, says the Monetary Authority of Singapore (MAS) in a press release.

Troubled Chinese property developer, Kaisa Group Holdings, is one step closer to striking an agreement with its offshore debt investors, announcing a new restructuring programme on November 6.

Products under the umbrella in the Mutual Recognition of Funds scheme (MRF) will not require institution or product level quotas, the Chinese regulator said on November 6. But experts argue the MRF’s rules may limit its appeal among foreign asset managers, in particular those without an established joint venture in the Mainland.

Chinese technology giant Tencent Holdings is due to hit the syndicated loan market for a fundraising of as much as $1.25bn.

UNV Digital Technologies is expected to seek listing approval from the Hong Kong Stock Exchange this Thursday and start pre-marketing its $150m IPO on November 16.