VTB Capital

In the first RMB round-up of 2016, Hong Kong RMB deposits and cross-border trade settlement recovered in November, RQFII programme added three new entities in December 2015, the Hong Kong and Singapore exchanges both saw strong futures trading volumes in December, ICBC managed nearly Rmb1tr in RMB-won trades, and Zimbabwe will make RMB one of its legal tenders this year. Plus, a recap of GlobalRMB’s top stories this week.

In the last RMB round-up of 2015, HSBC became the first foreign bank to issue RMB-denominated CDs to corporates in China, Hungary plans RMB bonds in 2016 and Russian bank VTB saw a big boost to its RMB business in 2015. Plus, a recap of GlobalRMB’s top stories this week.

Novorossiysk Grain Plant finally listed and started trading on the Moscow Exchange on Tuesday, after having delayed closing the deal for three weeks.

Europlan, the Russian car and truck leasing company, has completed its IPO on the Moscow Exchange, raising Rb3.27bn ($47m). Allocations were made on Thursday December 10.

Russian steel company Evraz is roadshowing a Reg S senior unsecured dollar bond through six active bookrunners and two passive, in tandem with a tender offer.

Chinese conglomerate HNA Group ventured into the dollar bond market on Thanksgiving and managed to raise $250m from a two times covered book.

Chinese pair Guangdong Rising Asset Management (GRAM) and HNA Group hit the dollar bond market on Wednesday as they look to wrap up their respective fundraisings ahead of the US Thanksgiving holiday.

Russian lender VTB is expanding its China offering to meet rising demand from Russian corporates and financial institutions for RMB trade and investment services. GlobalRMB spoke to Alexander Dmitriev, global head of financial institutions at VTB, to discuss the bank’s China strategy and the challenges it faces.

Novorossiysk Grain Products Plant, Russia’s largest grain export shipping terminal, has set the price range and opened the book for its IPO, in which it will join the first section of the Moscow Exchange.

Russian Copper Company has signed a $200m four year pre-export finance facility with European and Russian banks.

Beijing Properties and Miclyn Express Offshore (MEO) are making their inaugural foray into the offshore bond market with dollar-denominated offerings.

China Huarong Asset Management has lined up 15 banks for what will be its second outing of the year, while Beijing Properties is looking to make its offshore debut.