Northeast Asia

Two senior bankers at Credit Suisse in Hong Kong have left, according to sources close to the matter.

Hong Kong-listed Fortune Real Estate Investment Trust has tied up a HK$1.2bn ($154m) syndicated loan arranged by Sumitomo Mitsui Banking Corp.

Emperor International Holdings is gearing up for a new dollar bond, hiring nine firms to work on the transaction, while Japfa Comfeed Indonesia is looking for fresh funds to partly redeem its 2018s.

Shinhan Bank launched a new five year dollar deal on Tuesday, following its compatriot Korea National Oil Corp into the debt market.

China Evergrande Group dashed into the market last Friday, securing a $1.5bn deal across two tranches before investors shut down for the weekend.

The China Banking Regulatory Commission (CBRC) has taken a further step towards opening up the country’s financial sector, allowing foreign and joint venture banks to invest in domestic banking financial institutions.

Min Xin Holdings is looking to raise HK$827m ($107m) via a rights issue to pay down bank borrowings, according to a filing made after markets closed last Friday.

Korea National Oil Corp (KNOC) is selling a combination of floating and fixed rate bonds, with price thoughts for a five and a 10 year released at the same level. On the high yield side, China’s Shandong Yuhuang Chemical Co is marketing its debut three year notes.

South Korean game developer Netmarble Games has started pre-deal investor education for its up to W2.7tr ($2.4bn) IPO, according to bankers working on the transaction.

Pre-marketing for Asian IPOs picked up in earnest on Monday, with Guotai Junan Securities Co’s $2bn listing in Hong Kong among those vying for investor attention.

China Banking Regulatory Commission (CBRC) relaxes restrictions on foreign banks, China sees first net capital inflow in almost three years, and Goldman Sachs estimates $54bn of southbound flows to Hong Kong via Stock Connect by the end of 2017.

China got a big PR win when the IMF elevated the renminbi currency to its special drawing rights (SDR) basket, but the real market impact from that decision is yet to be felt.