Asia Pacific

Nio, the electric car company nicknamed China’s Tesla, priced its $1bn New York Stock Exchange IPO on Wednesday off the floor.

China Southern Power Grid Co (CSG) made its second foray into the debt market on Tuesday, wooing investors to its $1bn issuance with a juicy price.

Viomi Technology, the internet-of-things affiliate of Chinese smartphone maker Xiaomi, opened books on Tuesday for its $125.4m Nasdaq flotation.

In this round-up, the White House administration is lining up tariffs covering the entirety of Chinese imports, the People’s Bank of China further relaxes cross-border renminbi trading rules, and Bond Connect’s trading platform Tradeweb goes live with block trading.

Kelvin Lim, a director of loan syndicate and sales of Citi, has left the bank, according to a source close to the move.

State Street Corp has appointed Michele Hardeman as head of global markets for Asia Pacific, effective immediately.

Bank of America Merrill Lynch (BAML) has tapped Simon Cox to lead its equity capital markets (ECM) business in Australia, according to a memo seen by GlobalCapital Asia.

The positive tone in the corporate bond market and some excellent recent results for those issuers who have sold new deals has resulted in a number of companies announcing plans for transactions. The buoyant pipeline is a cause of optimism among bankers, despite no deals being marketed on Tuesday.

Asia Cement’s first convertible bond (CB) sale in five years was priced at the best end of terms for investors, which bankers away from the deal said was “extremely cheap”.

BMW Automotive Finance (China) Co is making its first foray into the ABS market this year, with bookbuilding for the Rmb4.5bn ($656m) Bavarian Sky China 2018-1 set to start next Monday.

Hong Kong-listed CMBC Capital, a subsidiary of China Minsheng Bank, is targeting Taiwanese bank liquidity for an up to HK$1.4bn ($178m) borrowing.

India’s Yes Bank has closed a $400m borrowing, attracting four participants during syndication.