Northeast Asia

BlackRock has received the very first RMB qualified foreign institutional investor (RQFII) quota under the US allocation from the State Administration of Foreign Exchange, in yet another sign that global asset managers are ready to boost their China investments.

Hong Kong-listed Singamas Container Holdings has reached out to lenders for a $250m borrowing with one bank at the helm. Although the company posted a loss for the six months to June 30, 2016, its strong balance sheet due to low debt is expected to see the deal through, said bankers.

Maikun Investment Co, an entity under Beijing Automotive Group (BAIC), is borrowing $290m from a five year syndicated loan that opened for retail participation on February 17.

Tuesday turned out to be a big day for aviation related companies with Grand China Air, China Aircraft Leasing Group and Hong Kong Express Airways venturing out with their respective bonds, raising a combined $810m.

Environmental solutions provider China Everbright International is looking to spin off and list its subsidiary China Everbright Greentech (CEG) in a potential $300m IPO as soon as April, according to a banker familiar with the matter.

SAIC-GMAC Automotive Finance is set to make its first auto ABS appearance this year with a Rmb4bn ($582m) Rongteng 2017-1 Retail Mortgage Loan Securitization — the first time it is securitising a subsidised portfolio.

Beijing Properties (Holdings), China Everbright Bank and Olam International were vying for investors’ attention on Wednesday in what is a busy week for dollar issuance in Asia ex-Japan.

The Hong Kong Exchange traversed a difficult financial year, marked on the one hand by sagging trading on the Stock Connect, and on the other a surge in RMB FX derivatives activity. For 2017, HKEX’s chief executive Charles Li said more RMB products are in store.

Hong Kong’s stock exchange and Saudi Arabian energy company Saudi Aramco are potentially a match made in heaven, according to the bourse's chief executive officer Charles Li.

South Korea’s Hyundai Capital Services timed its $600m outing well, thriving on its strong name recognition and the variety it added to the debt market to put together a fairly priced deal.

The China Securities Regulatory Commission (CSRC) touted its reform credentials last weekend, saying that IPO approvals will continue as stability returns to the market. But the regulator should not overplay the effect of short-term fixes. China’s equity market is still waiting for the true test of market-based reform.

China Development Bank became the latest name to take advantage of a liquidity-abundant market, snapping up $3bn-equivalent from three floating rate tranches in two currencies — in one of the largest FRN trades out of Asia.