Hong Kong SAR

Oil trading and bunkering business Winson Group has wrapped up syndication of a $90m one year revolving credit facility.

In this round-up, the People’s Bank of China (PBoC) sets the dollar-renminbi fix at a new record low, a new policy push for the Shanghai free trade zone (FTZ), and the China Securities Regulatory Commission appoints two new RMB qualified foreign institutional investors (RQFII). Plus, a recap of our coverage this week.

Veteran bonds bankers Paul Au and Patrick Liu have left UBS, with the bank also seeing changes in its credit distribution department in Asia Pacific.

Selfie touch-up app maker Meitu is on the verge of shaking up the Hong Kong ECM market as it brings the largest technology listing in the city in nearly a decade. Market participants will be watching in anticipation how the $750m IPO performs as it holds the key to the future of the tech sector in the city. Jonathan Breen reports.

Hong Kong is seeking to position itself as a financing hub for infrastructure in the wake of China’s Belt and Road scheme. As a result, the HKMA established the Infrastructure Financing Facilitation Office (IFFO) in July 2016 to connect the organisation with financial institutions, service firms and corporates active in the sector.

In an interview with GlobalRMB, Vincent Lee, executive director, Hong Kong Monetary Authority, laid out HKMA’s plans for the future of Hong Kong as an offshore RMB hub, and for the recently created Infrastructure Financing Facilitation Office (IFFO), which he oversees.

Hong Kong’s Dah Sing Bank raised $250m from a tier two deal on Tuesday, finding support from investors that were familiar with its credit.

Selfie touch-up app Meitu is just days away from launching what will likely be the largest technology listing in Hong Kong since 2007, having started feeling out demand for a $750m IPO.

United Laboratories International Holdings returned to the equity-linked market in style on Monday after a five year absence, raising $130m from a convertible bond.

Two senior members of UBS's debt origination and syndication team in Hong Kong have left the bank, according to multiple sources.

The Asian debt market stepped up a gear Tuesday with a number of new launches and mandates, as issuers navigate the volatility and try to wrap up their fundraisings before key holidays and the end of the year.

Two bankers have joined the loan syndication team of Agricultural Bank of China in Hong Kong in recent months, according to sources.