Hong Kong SAR

China National Chemical Corp (ChemChina) is meeting investors for a euro bond this week, as it looks to raise funds to pay down debt taken for the acquisition of Italy's Pirelli.

Shanghai Dazhong Public Utilities Group Co has launched bookbuilding for its Hong Kong IPO that could raise HK$2.0bn ($257.9m).

GlobalRMB has launched a new Monday round-up, featuring key market and regulatory developments from the weekend. This edition includes: mixed RMB FX performance, unexpected delay to the Shenzhen Connect, and Luxembourg looking to join the Belt and Road Initiative.

Hong Kong’s VPower Group International Holdings has raised HK$1.61bn ($206.3m) after pricing its IPO just off the bottom of guidance.

In this round-up, the Hong Kong Stock Exchange saw surges in trading of offshore RMB (CNH) futures, BMO became the first Canadian bank to become market maker for CAD-RMB direct trading, and the country of Djibouti is launching a Silk Road Bank. Plus a recap of GlobalRMB’s top stories this week.

With the RMB hitting new lows against the dollar following the US elections, the move away from offshore RMB (CNH) deposits is likely to continue, if not accelerate. GlobalRMB is introducing a new historical chart tracking the level of CNH deposits across Hong Kong, Macau, Singapore, South Korea and the UK.

The equity capital markets teams at Deutsche Bank, CMB International and Citi in Hong Kong have each had personnel changes.

An unexpected change to China’s education policies that threatens to upend the business model of private schools has put a question mark over some of their Hong Kong IPOs.

Trump, Brexit, giant sinkholes in Japan – there’s plenty happening in the world to make this year a tough one for anyone, including bankers. Clients, for their part, are taking the opportunity to squeeze every penny out of the banks that come knocking. But bankers are finding ways to make the most of a bad situation.

Deutsche Bank’s head of equity-linked origination for Asia is transitioning to a new role within the firm, according to sources close to the matter.

Hong Kong Broadband Network has wrapped up its latest syndicated loan, with 22 participants joining the four mandated lead arrangers and bookrunners.

The ability to tap into a liquid CNH swap market is one of most important considerations for international companies with operations in China such as IKEA, according to a joint report from the Hong Kong Monetary Authority and InvestHK.