Asia Pacific

BlueBay asset management has hired a senior sovereign strategist to focus on China, adding to its emerging markets research offering.

HSBC and Bank of East Asia have won approvals from the China Securities Regulatory Commission to set up joint venture securities companies in the mainland.

StanChart’s north Asia capital markets head bows out — Hsu joins StanChart levfin team — Mizuho loses Thailand, Korea-focused banker

China-based Hebei Construction Group is looking to raise between $200m and $300m through a Hong Kong IPO in the second half of the year, said a banker on the trade.

There is no better time than the summer to take a trip down memory lane and revisit old haunts in London, especially as it provides the perfect backdrop for catching up with friends over a few drinks.

Zhongyuan Bank’s HK$8.34bn ($1.1bn) IPO in Hong Kong was well covered as of Thursday morning, according to a banker at one of the leads.

Two firms from China’s new economy sector, which are backed by technology companies Alibaba and Tencent, plan to tap equity investors for over $2bn in their Hong Kong IPOs.

Hindustan Petroleum Corp (HPCL) on Wednesday sealed its inaugural international bond, a $500m 10 year deal. The company capitalised on a strong bid for Indian paper, and managed to price flat to its oil and gas peers with a similar government backing.

Two Chinese banks sold dual tranche floating rate dollar bonds this week, taking advantage of the market’s enthusiasm to raise a combined $1.8bn. But the eagerness for the format appears to be waning.

Property company Jinmao is returning to the Panda market just three months after its debut in the asset class. Sources said the issuer, which is hoping to raise Rmb2.5bn ($367.9m) with a three year note on July 7, is seeking a snap deal to exploit relatively stable onshore yields.

Chinese developer Longfor Properties Co began marketing its first investment grade dollar bond on Thursday morning in Asia.

KazAgro has seen a two notch cut in its rating from Standard & Poor’s, as the rating agency says that there is a declining state wilingness in Kazakhstan to provide funds for government related entities.