ICBC

After a year of muted issuance, two African sovereigns met investors in London this week. While both Angola and Nigeria held non-deal roadshows, investors said the timing was "no coincidence" for the former.

The Central Bank of Nigeria is undertaking a non-deal roadshow in London to meet rates, FX and credit investors.

The green bond market is set for some new action with Link Real Estate Investment Trust kicking off a dollar transaction on Thursday.

Warehouse developer China Logistics Property Holdings Co has added HK$3.4bn ($438.3m) to its coffers after sealing a Hong Kong IPO at the top of price guidance, according to a source close to the deal.

ICBC Luxembourg became the Chinese lender’s fourth overseas unit to issue a fixed rate dollar bond this year, raising $800m from a three year offering.

In this round-up, Hong Kong saw RMB deposits, trade and clearing pick up, foreign exchange trading in China as direct trading of Korean won and South African rand is launched, and Standard Chartered’s RMB Globalisation Index (RGI) fell to its lowest since August 2014. Plus, a recap of our coverage this week.

The Asia ex-Japan additional tier one market could finally be getting some action with Industrial and Commercial Bank of China (Asia) set to go on the road next week for its debut AT1.

Electronic broker Icap launched the first offshore renminbi (CNH) FX benchmark based on market trading, the first said on July 7. The new fix, which is priced at the open of European markets, aims to fill the gap between Asian trading sessions.

China's GF Securities, which made its debut in the offshore syndicated loan market in 2014, has launched a HK$4bn ($515.4m) loan into general.

The Asian debt market has followed up strongly on Bank of China’s successful $3bn green bond, with five deals launched on Thursday and more expected.

Kuwait’s Equate bargained hard on the terms of its latest $5bn bridge loan refinancing, bankers said, and the syndicate for the latest loan shrunk as some lenders passed on the deal.

Two entities of China’s Chonqing municipality — the Nan’an district financing vehicle and the Chonqing Grain Group — have mandated banks for potential deals while Huai’an’s local government financing vehicle is also seeking a new bond.