Hong Kong SAR

Chinese biopharmaceutical firm 3SBio has taken a step towards boosting its presence in Europe by printing its debut convertible bond, raising €300m in a rare appearance in the currency from an Asian issuer.

CJ CheilJedang Corp sold all of its stake in Samsung Life Insurance Co through an overnight block this week, raising W357.7bn ($314.2m) after the bookrunners managed to move investors up to the middle of the price range.

Chong Hing Bank plans to replace its legacy tier two notes with new Basel III compliant additional tier two bonds. Roadshow for the new money portion will be held this week, with the exchange offer set to expire next Friday.

Australia and New Zealand Banking Group on Monday became a clearing member of OTC Clearing Hong Kong (OTC Clear), the OTC derivatives clearing house of Hong Kong Exchanges and Clearing Limited (HKEX).

Wealth management and brokerage company Sun Hung Kai Financial is tapping the loan market for a HK$1bn ($128m) borrowing.

Zhongyuan Bank priced its Hong Kong IPO near the bottom of guidance on Wednesday, raising HK$8.1bn ($1.0bn).

China’s renminbi internationalisation (RMBi) strategy has seen a clear shift from pushing for the currency’s usage abroad to bringing investors into the onshore market. It is time to take a more nuanced view of renminbi internationalisation.

Property company Jinmao has sealed its second Panda bond of the year, raising Rmb2.5bn ($367.7m) from a three year note on Monday. The deal priced towards the tight end of the coupon range, a source told GlobalRMB.

JQ Pictures Holdings has completed a non-deal roadshow for its $100m IPO in Hong Kong and is preparing to open books in September.

Natixis has promoted from within for the newly created position of head of loan syndication for Asia Pacific, naming Daniel Klinger to the top job.

The China Securities Regulatory Commission is cutting red tape on sales of H-shares by Hong Kong and dual listed firms, making it easier for them to raise equity offshore.

Road King Infrastructure is hoping to revive the spin-off and IPO of its toll road subsidiary in the fourth quarter of this year.