Northeast Asia

Japan’s borrowers have been slow to board the SRI train. However, this is beginning to change, thanks to committed issuers such as the Tokyo Metropolitan Government, the Development Bank of Japan and the Japan International Cooperation Agency.

Kia Motors Corp has mandated banks for a new dollar deal, with a global roadshow kicking off in early October.

JD.com has rolled out its first international syndicated loan and the $500m deal has already attracted a lot of attention from banks. The Chinese e-commerce company is loss-making but lenders are enticed by the prospects of ancillary business and an expected improvement in its financial position after the recent spin-off of JD Finance, reports Shruti Chaturvedi.

A default from a Chinese local government financing vehicle (LGFV) is looking increasingly likely, showing how fragile the dollar debt market in the region can be. The risk is certainly there, but DCM bankers are sceptical it could cause a repricing in the offshore bond market, writes Addison Gong.

The worst nightmare for bankers is an absurdly demanding client. But throw in a teenage tantrum and things go from bad to worse.

Citi is planning to add at least 25 bankers to its Belt and Road coverage team over the next couple of years, amid a pick-up in interest from clients.

A long awaited framework for Panda bond issuers is likely to be finalised by the People’s Bank of China by the end of the year, GlobalRMB has learned.

Industrial and Commercial Bank of China is set to become the first Mainland bank to sell a green bond aligned with both international standards and China’s framework.

Four firms from Asia ex-Japan are taking bids for their dollar bonds, including Lionbridge Capital Co, Nan Hai Corp, Overseas Chinese Town Enterprises Company as well as Malaysia’s Yinson Holdings.

The National Bank of Canada (NBC) has raised Rmb600m ($90.3m) from a three year bond on September 28, becoming the second Canadian issuer to hit the dim sum market in two weeks.

The renminbi held its spot as the world’s fifth most active payments currency in August, according to Swift’s RMB tracker. The news came just a day after Swift said it will start displaying China’s Cross-Border Interbank Payment System’s (Cips) data on its system.

Nomura’s John Goff is adding the positions of head of global finance for Asia ex-Japan and acting head of DCM Asia ex-Japan to his job description.