Asia Pacific

China’s Ministry of Finance (MoF) has decided not to acquire a credit rating for its forthcoming dollar bond issuance – the country’s first dollar bond in over a decade. The news came as MoF mandated 10 banks as bookrunners and managers, including four foreign entities.

The head of China Banking Regulatory Commission (CBRC) says financial regulations in China will become stricter in future, the Chinese economy grows by 6.8% in the third quarter, the US backtracks from labelling China a currency manipulator ahead of president Donald Trump’s visit to China.

China Merchants Bank priced its debut Basel III additional tier one dollar bond on Thursday, 10bp inside the main comparable, as the small deal size and rarity value proved attractive.

Expectations were low for breakthrough announcements on financial markets reform ahead of the Communist Party Congress, which started Wednesday. But regulators have dropped a few hints at what might be in store for the renminbi internationalisation (RMBi) agenda and the opening of the banking sector.

Manulife US Real Estate Investment Trust has raised $208m to fund the acquisition of a Jersey City property after investors poured into its rights issue, according to a filing on Thursday.

The order books for Vincom Retail’s record-breaking IPO in Vietnam will close a day early. The D15.4tr ($677.9m) listing has already attracted heavy demand.

China-based Rise Education has wrapped up a Nasdaq IPO worth $159.5m after pricing the stock above the initial guidance range, according to a source close to the deal.

Malaysia’s RHB Bank has hired Ankur Khandelwal from Barclays to head its Asia ECM unit, according to sources close to the matter.

Two credit rating downgrades of Dalian Wanda Commercial Properties (DWCP) have put its offshore loans in lenders’ cross-hairs. DWCP is talking to its lenders, who have the power to force an acceleration of payments. Shruti Chaturvedi reports.

Baidu has picked banks to list its video streaming arm in the US, as a host of Chinese issuers stormed into Wall Street this week for their IPOs.

China Minsheng Bank has named Sheau Huei Wang as the new head of syndicated finance, succeeding Foster Lee who left the firm earlier this month.

Qudian priced its $900m US float above the initial range this week, then soared as much as 48% on its debut, underscoring investors’ ravenous appetite for Chinese fintech stocks.