Northeast Asia

China’s Industrial Bank took advantage of a quiet primary market on Tuesday, bagging $1bn from a dual trancher. Given the softer tone this week, the issuer went out with realistic expectations on pricing, which was key to the transaction’s success, according to bankers.

It has been 10 months since Malaysia received its renminbi qualified institutional investor (RQFII) allotment from China yet not a single institution from the southeast Asian country has been able to attain a licence. However, the lack of progress is about to end with several market participants telling GlobalRMB they are confident the first RQFII licence could be awarded by the end of the year.

The US Commodity Trading Futures Commission's split over whether to accept Japan's uncleared margin rules as equivalent to the US was not an ideal outcome. But the decision, however contentious, is a pragmatic step which will motivate further convergence between regulatory regimes.

Chinese healthcare and education names are flocking towards Hong Kong for IPOs, with the most recent filings coming from New Century Healthcare Holding Co and China Yuhua Education Corp.

Prosperity Real Estate Investment Trust opened a HK$1.95bn ($251.51m) borrowing into general syndication on Tuesday to raise fresh funds for an acquisition in Hong Kong.

Bank of Communications Co is set to ask for shareholder approval for its $300m spin-off and listing of its investment banking subsidiary BoCom International in Hong Kong.

HSBC has named Jackson Tai, the former Asia Pacific chairman of JP Morgan and chief executive officer of DBS, as an independent non-executive director of its board.

Industrial Bank Co has thrown open books for a dual-tranche dollar offering following a series of fixed income investor meetings at the start of the month.

Postal Savings Bank of China has started taking orders for a Hong Kong IPO that could be worth HK$62.7bn ($8.1bn). Set to be the world’s largest float in two years, the deal is going to add about $130m in fees to the underwriters’ coffers.

Silk Road bonds (SRBs) could boost the popularity of the renminbi as well as address emerging markets infrastructure shortages, according to panelists at a forum by credit agency Dagong and the International Capital Markets Association (ICMA). But giving the instruments the proper policy support will be key to their success.

HSBC looked set to follow Standard Chartered in issuing yen-denominated senior bonds from its holding company, as the country’s regional investors weigh up the benefits of buying into riskier transactions.

China's Redco Properties Group has signed a $130m three year loan with a group of lenders, it said in a Hong Kong stock exchange filing.