Northeast Asia

Two senior members of UBS's debt origination and syndication team in Hong Kong have left the bank, according to multiple sources.

The opening of China's interbank bond market (CIBM) this year means that the world's third largest fixed income market will become an increasing focus for global investors, according to the world's largest asset manager.

CMB Financial Leasing Co raised $1.2bn across two tranches in its debut international bond on Monday, and met its different objectives for the five and three year portions.

Steel giant Posco has raised W187.7bn ($159.7m) after offloading its entire position in South Korea’s Shinhan Financial Group, at a time when the benchmark Kospi index has fallen 3.1% in the past month.

The Asian debt market stepped up a gear Tuesday with a number of new launches and mandates, as issuers navigate the volatility and try to wrap up their fundraisings before key holidays and the end of the year.

Zhen Ding Technology Holdings is taking on a syndicated loan to replace a facility raised by its subsidiary Iris World Enterprises earlier this year.

Two bankers have joined the loan syndication team of Agricultural Bank of China in Hong Kong in recent months, according to sources.

Moody’s downgraded Mongolia’s long term issuer and senior unsecured rating from B3 to Caa1 last Friday, reflecting the agency’s lack of faith in the country’s ability to control its dire budget deficit.

China National Chemical Corp (ChemChina) is meeting investors for a euro bond this week, as it looks to raise funds to pay down debt taken for the acquisition of Italy's Pirelli.

Shanghai Dazhong Public Utilities Group Co has launched bookbuilding for its Hong Kong IPO that could raise HK$2.0bn ($257.9m).

CMB Financial Leasing Co launched its debut international dollar bond on Monday with three and five year tranches, as ICBC London rolled out a three year floating rate note.

GlobalRMB has launched a new Monday round-up, featuring key market and regulatory developments from the weekend. This edition includes: mixed RMB FX performance, unexpected delay to the Shenzhen Connect, and Luxembourg looking to join the Belt and Road Initiative.