Asia Pacific

China’s Yintech Investment Holdings closed unchanged on its first day of trading on the Nasdaq on Wednesday, after pricing its $101.3m IPO at the mid-point of the range.

Another week and another bank has announced a round of cuts. If it continues like this, we bankers are going to become an endangered species — especially as the current earnings season isn’t providing any joy either.

The loans team at Société Générale is seeing changes at the top as José-Antonio Olano, head of loan syndicate and sales for Asia Pacific, is taking on a new role in with the bank in Europe, according to sources.

A multi-currency loan for Sino Horizon Holdings has been launched into syndication via one bank. But as the facility size is relatively small, not all lenders will be able to get a piece of the deal.

China Petroleum & Chemical Corp (Sinopec) made a comeback to the bond market this week with a $3bn four-tranche deal. But in a step away from its previous outings, the oil and gas giant opted for price over size.

Commodities trader Vitol Asia has hit the market for a one year extension to a $1.48bn borrowing sealed in June 2015.

BOC Aviation started gauging investor appetite this week for its $2bn IPO in Hong Kong, with books set to open in mid-May.

Seadrill has sold the remainder of its stake in SapuraKencana Petroleum via a MR774.72m ($198.35m) accelerated share sale, putting to bed a deal that failed to clear only three weeks ago.

A multi-billion dollar project finance loan for Tengizchevroil (TCO), a Kazakh oil field joint venture, is finally being arranged, said four bankers this week.

China Vanke has announced plans to issue an offshore, foreign currency-denominated bond, according to a filing with the National Development and Reform Commission (NDRC).

Asia Development Bank (ADB) and the International Finance Corp (IFC), the first issuers to sell Panda bonds, will not be able to return to the market quickly as Chinese regulators are refusing to grant them an exception to the accounting rules.

There’s now only five months until the renminbi enters the IMF’s special drawing rights basket in October. But while this shows the progress the RMB has made, panelists at a recent conference are not expecting full convertibility anytime soon.