Singapore

Singapore and China have announced new initiatives to boost the internationalisation of renminbi (RMB) through the city-state.

DBS Bank is following in the footsteps of its peers with plans to launch a Panda bond this year, several sources have told GlobalRMB. The deal will not only be the bank’s debut in China’s onshore bond market, but also mark the first such trade from Singapore.

Crédit Agricole has appointed a new director to its loan origination team in Singapore, poaching the banker from IDFC Securities.

GlobalRMB is reporting from Sibos 2015 in Singapore this week. Here we round up the best from day one of the conference including DBS CEO Piyush Gupta and Boston Consulting Group. Keep checking throughout the day for new updates.

AAA Oils and Fats, a trading subsidiary of palm oil processor and distributor Apical Group, is in the market for a loan of up to $130m.

In this round-up, Hong Kong RMB clearing dropped in September, Macau's RMB deposits and cross-border settlement also fell in July, South Korea's RMB deposits kept contracting in September, and Bank of China Budapest branch formally launched RMB clearing services.

The Singapore Exchange (SGX) has picked UBS as the general counterparty for its upcoming over-the-counter (OTC) electronic bond trading platform called SGX Bond Pro.

Singapore Exchange (SGX) is looking to replicate the success of companies CME Group, Deutsche Bourse and the London Stock Exchange Group in evolving the indexing business, as passive investing gains popularity in Asia.

Standard Chartered has reorganised its capital markets operations, splitting its DCM and loan syndications units. Coinciding with the rejig is the departure of Aaron Russell-Davison as the head of debt capital markets, with more changes expected to take place.

Ascendas Real Estate Investment Trust (Reit) attracted strong demand for its S$300m ($210m) subordinated perpetual bond, with institutional investors drawn to its credit rating and good name.

Aaron Russell-Davison has left his role as Standard Chartered’s head of debt capital markets, his move coinciding with the bank reorganising its capital markets operations, according to sources close to the situation.

ING has appointed a new director to its syndicated finance team in Asia Pacific, replacing a banker who has moved to a new department within the firm.