Northeast Asia

Allocations are out for a $150m three year loan for a subsidiary of Chinese electro-acoustic product maker Goertek, which gathered commitments from 10 banks during syndication.

Welcome back and Happy New Year. While we were on a break, China revised its official trade-weighted currency basket, added two new RMB qualified foreign institutional investors (RQFII) and set stricter rules for the individual quota of foreign exchange (FX) purchases that reset on January 1.

Law firm Dechert has hired a new partner in its corporate and securities team in Hong Kong, poaching from Cadwalader, Wickersham & Taft.

ANZ and CIMB have both revealed plans to sell their respective stakes in Shanghai Rural Commercial Bank (SRCB) and Bank of Yingkou, as part of strategies to focus on their core businesses.

Chinese property developer Cifi Holdings (Group) Co has raised $530m from a multi-currency club loan.

Law firm Clifford Chance has appointed a new head of corporate practice for Asia Pacific, as the incumbent takes over a new role.

Hong Kong-listed Longfor Properties has sealed a Rmb3bn ($431m) fundraising with a Chinese bank at the helm.

Logan Property Holdings raised a quick $200m from five non call three notes on Thursday, two years after its last international public transaction.

International Business Settlement Holdings, formerly known as Chaoyue Group, has closed a HK$1.6bn ($206.1m) equity fundraise just before Christmas.

China and Russia are forging ahead with closer financial market ties, with the Moscow Exchange (Moex) and Shanghai Stock Exchange (SSE) looking to facilitate two-way investments between the countries. This comes as the Russian ministry of finance is still finalising plans for the first RMB-denominated bond to be issued in Russia.

China Development Bank Corp’s securities arm has raised more than Rmb3.6bn ($518.3m) from two state investors, in what the lender said was a prelude to an IPO.

Heavy demand for a HK$2.8bn ($361m) loan for Permira's leveraged buyout of Tricor Holdings has led to a big scaleback in allocations to banks.