Northeast Asia

Rabobank’s capital markets operation in Hong Kong has undergone senior staff changes with the departure of a veteran loans banker and the appointment of a new capital markets head.

Hong Kong Exchanges and Clearing (HKEX) plans to introduce options on the Chinese renminbi currency, as well as a US dollar/offshore renminbi contract, having gained approval from the Securities and Futures Commission of Hong Kong.

Guangzhou Rural Commercial Bank Co is seeking regulatory approval for a $2bn IPO, having filed a draft prospectus with the Hong Kong Stock Exchange (HKEX) on Wednesday.

Diesel engine maker Weichai Power has gathered liquidity from 13 lenders during the general phase of its €310m ($334m) five year loan.

The next chapter of the renminbi internationalisation process could soon be taking place in the commodities market with Amundi Asset Management predicting the rise of petro-renminbi in 2017.

Automobile parts maker Zhongding Hong Kong is back in the loans market after a year and a half for a €150m ($156.6m) three year facility.

Chinese sportswear manufacturer Xtep International Holdings has doubled the size of its latest borrowing to $200m after finding demand from a group of nine banks.

Real estate company China Aoyuan Property Group has become the first issuer in Asia ex-Japan to launch a dollar bond in 2017, marketing a three year on Wednesday.

Wisdom Education International Holdings Co kicked off investor education for a $200m IPO in Hong Kong on Tuesday, squeezing into a tight pricing window before the Chinese New Year break.

Guangzhou R&F Properties Co and KWG Property Holding raised a combined $515m at the tail end of last week, just before the start of what many anticipate to be a busy year for Chinese property debt issuance.

Chinese property developer Modern Land (China) Co and textile producer Shandong Ruyi Technology Group Co priced their respective taps at the end of last week, taking advantage of regulatory approvals that expired at the year end.

The Hong Kong IPO market has started 2017 with some action as two Chinese issuers unveiled fundraising plans to seek a combined HK$4.2bn ($533.8m).