Hong Kong SAR

Entertainment and gaming property firm Landing International Development is preparing a rights issue to raise HK$5.1bn ($662.9m), according to a filing with the Hong Kong Stock Exchange (HKEX) on Tuesday.

Bank of Communications Co has filed a draft prospectus for the spin-off and listing of its investment banking arm BoCom International in Hong Kong, according to an announcement on the city’s bourse.

Hong Kong’s FWD began marketing a new perp on Tuesday, returning to dollar market after a gap of more than two years.

Hong Kong should look to further strength its economic ties with China as headwinds from Trump’s anti-trade rhetoric threaten to disrupt the US-China relationship and Brexit creates an uncertain outlook for Europe.

Hong Kong Exchanges and Clearing (HKEX) has gone live with a volatility control mechanism (VCM) on its derivative market to prevent extreme price volatility.

The bank has reshuffled its management team in commercial banking in Asia, with senior bankers taking on new roles, according to a press release it sent out on Monday.

In this round-up, RMB-denominated cross-border trade settlement suffers a big setback in 2016, turnover in the Chinese interbank foreign exchange (FX) markets revolves almost entirely around dollar trades, and GF International launches a China A-shares fund on the London Stock Exchange. Plus a recap of our coverage.

Cigarette package printer Amvig Holdings, which launched a HK$1.6bn ($206m) equivalent dual currency refinancing in December, has allocated the borrowing after 12 banks joined lead ANZ to form the syndicate.

SEA Holdings, Guangzhou R&F Properties and a Changchun local government financing vehicle took advantage of the abundant liquidity in the bond market by locking in funds on Thursday.

Deutsche Bank has appointed two bankers as co-heads of global markets for Asia Pacific, following Michael Ormaechea’s decision to retire.

UBS is losing its Asia head of corporate client solutions, who is understood to have resigned on Thursday, according to sources.

M&A in Asia has started on a strong note this year, with the first big financing — for McDonald’s China’s $2.08bn acquisition by Citic and Carlyle — under way. While details of the syndicated loan are limited at this stage, the transaction has already gathered plenty of attention from bankers, writes Shruti Chaturvedi.