ANZ to sell first Basel III foreign bank dim sum

As GBA ties grow, Shenzhen's government has issued Rmb4bn of bonds in Hong Kong, and Rmb1bn via a Macau sustainable bond.

The issuance of a sovereign panda bond, in addition to a dim sum bond from the Development Bank of Kazakhstan, will give the country Renminbi benchmarks.

The Eurasian Development Bank and Kazakhstan’s Samruk-Kazyna have tapped the offshore Renminbi market, while Uzbekistan has struck its first sukuk listing on AIX.

The Australian regulator has cited four proceedings at the bank spanning misconduct across ANZ's institutional and retail divisions, including over the management of a A$14bn government bond issue; ANZ, which is cutting 3,500 jobs, has admitted to "unconscionable conduct" and apologised.

Corporate issuances are increasing in the offshore Renminbi bond market, despite challenges around rates, liquidity and diversification; Hong Kong is poised to benefit.