HSBC

The UK showed the enticing possibilities of the offshore renminbi market for sovereigns after it drew more than Rmb5.5bn ($900m) of orders to a debut deal that was priced at the tight end of guidance. Such was the strength of the demand that the sovereign was able to print Rmb3bn — Rmb1bn more than had been expected by market participants.

E-CL, the largest power generator in the north of Chile, finishes the roadshow for its dollar bond on Wednesday.

The UK looks to have laid down a serious marker for other sovereigns wishing to follow it into the offshore renminbi market, with the book on its debut deal over twice subscribed and guidance well inside initial price thoughts as of Tuesday morning London time.

Power Construction Corp of China (PowerChina) is returning to the market for the second outing this year and this time around is looking to price a perpetual bond.

The UK government's landmark RMB bond is grabbing attention this week, but financial market participants are already looking at the next steps, with panda and green bonds seen as possible next areas of focus for Chinese capital account liberalisation, according to HSBC.

Korean Reinsurance (Korean Re) has brought out Korea’s first offshore subordinated bond from the insurance sector.

Indonesian conglomerate Astra International is close to winding up a $300m club loan with eight lenders.

A portion of Tata Steel’s $5.6bn borrowing, which has been in senior syndication since July, finally launched into general on October 13, with five banks joining the original 11 leads.

Bank of China (BoC) is considering dropping the euro tranche for its debut additional tier one (AT1) after failing to generate enough interest for that currency on its global roadshow.

UK pharmaceuticals group Amdipharm Mercury, owned by Cinven, has launched a £985m-equivalent loan that will refinance debt and recapitalise its senior debt structure.

A quiet Philippines IPO market is finally about to see some action with luxury goods retailer SSI Group set to open books for a Ps6.5bn ($146m) transaction on October 15. While the size of the offering has been drastically reduced by 40%, the IPO is still expected to be the largest in the country this year.

China is keen to step up the pace of internationalising the renminbi - and European governments are keen to help. France is preparing to issue a renminbi bond, three banking sources have told Emerging Markets, a sister publication of GlobalRMB. Luxembourg is also considering a deal, one said.