Standard Chartered

China’s Panda bond market is gaining plenty of traction with Standard Chartered becoming the third foreign bank to sell notes in the onshore renminbi market this year. And with a pair of sovereign issuers eager to launch their deals, the asset class is set to soon eclipse dim sum bonds, writes Rev Hui.

China Construction Bank broke the pricing record for the Asian additional tier one (AT1) sector this week, raising $3.05bn with a headline coupon of just 4.65%. Although this was the lowest coupon ever achieved by an Asian bank in the AT1 market, investors were more than happy to pour into the trade.

Standard Chartered's European head of loans is leaving the bank.

Ford Auto Finance (China) executed its second auto ABS of the year this week, raising Rmb2.99bn ($467m) with Fuyuan 2015-2 Retail Auto Mortgage Securitization. The amount raised was similar to its last outing in February, but Ford was able to cut its funding costs by an impressive 140bp.

The RMB seems set to weaken further despite the IMF's decision to give the currency reserve status on November 30. However, experts agreed a weaker RMB will not stop it from gaining ground as a global currency.

China Construction Bank (CCB) has launched what is most likely to be the last high profile bond of the year in Asia, opening books for a dollar-denominated additional tier one offering on December 9.

India’s Reliance Industries has selected a group of 13 lenders for a $1bn loan that will refinance a borrowing raised in 2010.

For the third part of our annual awards, we cover Best Local Currency Bond, Best Securitization, Best High Yield Bond, Best Investment Grade Corporate Bond, Best Financial Bond, Best Sovereign Bond, Best Local Currency Bond House and Best G3 Bond House.

Zesco, the Zambian state-owned power firm, is syndicating a $122m seven year loan, part of which is guaranteed by US government agency USAID.

Industrial and Commercial Bank of China’s London branch has established a $10bn MTN programme, paving the way for the unit to issue its first international bond.

Asia’s debt capital market is set to end the year on a bumper note, with China Construction Bank (CCB) poised to launch a dollar-denominated additional tier one trade next week.

A $1.5bn refinancing for Tata Steel has finally been opened into syndication, with invitations going out to a limited number of banks on Thursday. The company’s Singaporean subsidiary is raising the loan, which offers lenders an added incentive if they book the deal in the country.