Hong Kong SAR

Four bankers in Credit Suisse’s Asia Pacific loan syndications and financing group left the firm this month, according to sources close to the situation.

Canaan is eyeing a $1.5bn IPO in Hong Kong that will test investor appetite for the first listing of a cryptocurrency firm in the city.

Cambodian casino operator NagaCorp clinched a $300m debut bond on Monday. But the gaming company’s notes looked cheap compared to other industry names in Macau, causing the yield to drop significantly in secondary trading on Tuesday.

MSCI has confirmed the 234 A-shares it is including in its benchmark Emerging Markets (EM) Index from June 1. Instead of grabbing all the A-shares they can get on the first day of inclusion, international investors are likely to take a tempered approach and build their exposure incrementally, analysts said.

China Tower Corp set the ball rolling for its Hong Kong IPO on Monday, filing a prospectus for a potential $10bn listing, according to a source close to the deal.

Universal Medical Financial & Technical Advisory Services Co is making a quick return to the offshore loan market, six months after sealing a borrowing of around $600m.

Shanghai-listed Liaoning Cheng Da plans to list its biotechnology arm in Hong Kong, according to the company.

Chinese telecommunication company ZTE, which is asking for a covenant waiver on a $450m loan, is set to get some relief after US president Donald Trump said he would work with China to get the company back to business soon.

The Hong Kong Monetary Authority (HKMA) has introduced a pilot bond grant scheme, outlining a new initiative to drive debt issuance in the city.

Shanghai Fosun Pharmaceutical Group has been given the go-ahead to raise as much as HK$4.4bn ($564m) in new equity, amid reports the company is bidding for Novartis’s assets.

Hong Kong-listed Angang Steel has sealed its debut in the international equity-linked market with a HK$1.85bn ($236m) five year put three trade.

Discussions around the co-existence of two renminbi markets, one onshore and one offshore, are once again picking up pace, market participants told GlobalRMB. It will be up to China’s central bank to clean up the mess once and for all.