Northeast Asia

China Huiyuan Juice Group is tapping the offshore market for a €150m three year amortising term loan, about a year-and-a-half after making its international debut in the currency with a bond.

The National People's Congress changed its tone on FX reform, spot markets strengthen at the start of the week, and the China Securities Regulatory Commission (CSRC) continues to push for MSCI's inclusion of A-shares in global indices.

Hong Kong clothing manufacturer Crystal Group and Shenzhen Eyeis Ophthalmic Medical Co are looking to float for a combined $1bn, according to a banker familiar with the matter.

China South City Holdings raised $300m on Thursday in a deal that was described as relatively straightforward, thanks to the fact that the property developer has already established a debt curve.

China Reinsurance (Group) Corp and China Cinda Asset Management Co ventured out on a busy Thursday with their respective five year prints that saw investors stand firmly by their sides. The two took a combined $3.8bn.

China Boqi Environmental Co is seeking approval from Hong Kong’s bourse to launch an IPO, according to a filing on Thursday.

Mongolia has managed to escape from the brink of default with a hugely popular $600m new money plus exchange offering, as investors took heart from the recent bailout from the International Monetary Fund.

Gome Electrical Appliances Holding opened books for a benchmark-sized Reg S debut trade on Friday morning via sole bookrunner Barclays.

In this round-up, Hong Kong’s RMB deposits dropped to a near six-year low, the Mutual Recognition of Funds scheme saw meagre flows to Mainland and Hong Kong funds, and the Stock Connect had a surge in net purchases in February. Plus, a recap of our stories this week.

Corporate treasurers and financial institutions feel that the Panda bond market has great potential as a funding venue, but regulators and industry bodies will need to push for reforms to make it viable.

A managing director in public sector DCM has left Mizuho.

China Development Bank jumped on the floating rate note (FRN) bandwagon this week, bagging $3bn equivalent and adding its name to a list of issuers that recently sold bonds in the format. With demand rather than supply driving deals, and with interest rate hikes looming, the stage is nicely set for more FRN trades, writes Addison Gong.