Asia Pacific

Bank of China and China Construction Bank have picked new chairmen, BOC’s asset management arm received its first batch of qualified foreign institutional investor (QFII) quotas, and the Ministry of Finance published new guidelines to restrict foreign investments by state-owned enterprises.

China Huiyuan Juice Group is preparing for its debut in the dollar debt market, after hiring BOC International as the sole lead for the transaction.

Vincom Retail is gearing up for an IPO of about $600m in Vietnam as early as September, with three international banks leading the trade.

The shake-up of equity research provision expected to be caused by MiFID 2 could open up more space for new business models — including research paid for by the issuers, writes Jon Hay.

Chinese investors have become increasingly focused on short-dated bonds this year. That is proving to be a boon for the country’s auto ABS originators, who are in the middle of a breakneck expansion of volumes — with plenty more still on the cards. Noah Sin reports.

China Chengtong Holdings Group priced its inaugural $500m bond on Tuesday, hitting the market as it transitions under a pilot programme for state-owned enterprises. Investors debated fair value for an unrated credit that is somewhere between a corporate and a financial, reports Morgan Davis.

LVGEM (China) Real Estate Investment Company is preparing its first international bond, mandating eight banks to work on the transaction.

Sunac China Holdings raised $1bn on Wednesday from a dual-tranche bond, despite a lot of market talk about the company this year. Bankers said the deal's success showed investors’ confidence in the company, but analysts argued the issuer left enough on the table to get demand.

HNA Commercial Reit is on the lookout for arrangers for its Singapore IPO, after Bank of America Merrill Lynch walked away from the deal. But the real estate investment trust’s search will not be easy. Bulge bracket firms are under scrutiny for any ties to parent HNA Group, which is feeling the heat from Chinese regulators. Jonathan Breen reports.

A pair of Indian IPOs that launched earlier this week showed investor appetite for new share sales is far from waning.

Singapore-based Novena Global Lifecare Group is teeing up a $150m IPO in Taiwan as it looks for capital to fund expansion in north Asia.

Goldman boosts China focus — Mizuho loses syndicate banker — ANZ names Laos CEO — Levfin departure at BAML — HSBC’s REF head resigns — StanChart hires from Citi India