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India’s Bharat Petroleum Corp (BPCL) has made a quick return to the syndicated loan market, issuing a fresh request for proposals for a facility of $500m, just two months since it mandated a Japanese bank for a fundraising of $100m.

Gary Chan has rejoined ICBC International, as regional head of ECM in Hong Kong, following his departure from BNP Paribas, according to sources.

The Hong Kong Monetary Authority (HKMA) has identified five banks it considers to be systemically important to the city’s financial markets. As a result of their new status, these banks will be subject to more onerous capital requirements from 2016.

Malaysia’s Sumatec Resources is planning to raise as much as MR1.1bn ($298m) from a rights offering to fund its acquisition of Borneo Energy that was first announced last July, after having made changes to the offering’s structure following a reduction in the purchase price of the acquired entity.

Singaporean lifestyle real estate company Rowsley has closed books on a three year non call one S$100m ($72m) bond issue, which the company will use for its development plans in Yangon, Myanmar, according to a banker close to the deal.

France’s BPCE has begun taking orders for its Basel III complaint tier two debt in the offshore renminbi (CNH) market, opening books to what looks to be its debut dim sum bond on Wednesday. If it goes ahead with its plan, it will be the fifth non-Chinese bank to tap the CNH market to boost its Basel III tier two capital buffers.

Shanghai Electric Group is planning to follow up its successful from last August with another outing in the international bond market this year. But instead of returning to dollars, the state owned enterprise (SOE) is now eyeing up euros.

The People’s Bank of China (PBoC) has set an initial timetable for the launch of China’s Cross-border Inter-bank Payment System (CIPS), according two sources close to the matter. GlobalRMB understands seven international banks — ANZ, BNP Paribas, Citi, DBS, Deutsche Bank, HSBC, Standard Chartered — are among the 19 firms selected for first stage testing.

Hong Kong listed Fosun International's $500m facility entered general syndication this week. Seven banks are leading the loan, which they are syndicating on a best efforts basis.

First Gulf Bank has decided against updating its Malaysian ringgit wakala programme, due partly to the high cost of issuing sukuk, an official the bank told IFIS.

Investors were buying puts and put spreads on real estate investment trusts ahead of the Federal Reserve Open Market Committee announcement on Wednesday (March 18), as such sectors are sensitive to interest rates so are prime targets for options hedging.

The decision to add 25 constituents to the iTraxx Crossover in September was a mistake, as it hasn’t increased the trading volume of single name credit default swaps as expected, according to market makers.