HSBC

HSBC took a big step forward in furthering its China ambitions this week, entering into an onshore joint venture securities firm with Shenzhen Qianhai Financial Holdings. The first priority is to launch an onshore debt business but the bank has ambitions eventually to offer a full range of investment banking services. Rev Hui reports.

Primary activity has finally returned to the Asia ex-Japan high yield market following a hiatus of close to three months, with Future Land Development Holdings launching a deal on Thursday. While the pipeline remains thin, market participants are taking heart that not all is lost for the asset class, writes Rev Hui.

Standard Chartered has been given the nod for its debut Panda bond issuance from the People’s Bank of China (PBoC). The deal is expected to take place quite soon, two sources with knowledge of the trade told GlobalRMB.

Thursday may be bonfire night in the UK but all the fireworks in the loan market were taking place in the Middle East this week, as Commercial Bank of Qatar (CBQ) launched a $800m loan alongside three other banks and with a loan for Oman also in the pipeline.

Standard Chartered has been given the nod for its debut Panda bond issuance from the People’s Bank of China (PBoC) and the deal is expected to take place quite soon, two sources with knowledge of the trade have told GlobalRMB.

Life is not getting easier for the treasury teams of financial institutions and the investors that buy their debt. Much of 2015 has been dominated by volatility, with the euro market shut for long periods of time.

Insurance professionals are used to uncertainty. It’s their business. But even they are worried about the uncertainties they face under new regulations about to go into effect, over which there is still a significant lack of clarity.

Industrial and Commercial Bank of China New York opened bookbuilding for a dual-tranche senior dollar bond on Thursday, while Future Land Development Holdings has started wooing high yield investors with a new two year offering.

China’s cross-border interbank payment system (CIPS), launched on October 8, is revolutionising the way payments are made and received in RMB across the globe. The system is just in its first phase, but as it expands its reach, the role of offshore RMB clearing banks will be called into question.

Perform Group, the UK digital sports media company, announced its intention on Wednesday to hit the high yield market with its first bond: £200m of secured notes to fund new content.

Royal London Mutual Insurance Society looked to the sterling market for a 13 year subordinated bond following meetings with investors earlier this week.

Kuwait petrochemicals firm Equate is due to close a $6bn one year loan by early December that will include an Islamic financing component.