Northeast Asia

The US is one step closer to becoming a renminbi hub with Bank of China New York officially appointed as the country’s first RMB clearing bank, a major development towards the internationalisation of the currency.

Hong Kong’s Securities and Futures Commission has begun consultations with market participants over plans to grow its futures and options market by relaxing trading position limits for listed derivatives.

Hong Kong and China-based fintech lender WeLab could be a sign of things to come in the Asian syndicated loans market as the start-up seeks out its debut borrowing. Some banks will no doubt cast off the industry as a fad and give it a miss. But now is as good a time as any to take a fresh look at fintech.

Banco CorpBanca Colombia is holding a roadshow in Taiwan alongside the US for a $200m two year syndicated loan.

In a week where much of the attention has been on Postal Savings Bank of China’s mammoth IPO, Chinese firm Rici Healthcare Holdings is getting ready to jump into the equities market for a potential $200m listing, according to sources.

Delhi International Airport Private (Dial) is planning a comeback to the international debt market almost two years after its maiden offering, and is deciding between a dollar deal and a Masala bond.

Postal Savings Bank of China has narrowed the price range on its Hong Kong IPO to the bottom half of guidance, and is set to raise up to HK$58.8bn ($7.6bn) in the world’s biggest listing in two years.

A handful of issuers decided to turn to the bond market on Tuesday, looking for a crucial window just one day before the US Federal Reserve makes its decision on the trajectory of interest rates.

Woori Bank has set sights on its second dollar-denominated Basel III additional tier one bond, opening books on Tuesday morning. It will be the first South Korean lender to test the bank capital market following a recent rule change on AT1 instruments.

China is stockpiling gold as an alternate way to support the internationalisation of the renminbi, according to the findings of a China International Capital Corp (CICC) research report last week.

Veolia Environnement priced its debut Panda bond on September 1, becoming the first French issuer to tap the onshore Chinese market. The firm was also one of the first corporates to be allowed to repatriate funds out of China despite ongoing capital controls, its treasurer told GlobalRMB.

Gold One Group, which produces low-cost gold in South Africa and is part of the Citic Group, is laying the groundwork for a Hong Kong listing with a preliminary filing.