Banks

Agricultural Development Bank of China (ADBC), one of the three policy banks in China, sold a Rmb3bn ($434m) dim sum bond with a Rmb200m retail portion on Thursday. The issuer added another Rmb1bn offering during bookbuilding thanks to ultra high demand.

High yield property company Kaisa Group Holdings sold its third dollar bond of the year on Wednesday, riding on the high of its recent rating from Moody’s to raise $400m.

Yiwu State-owned Capital Operation Co, a Chinese local government financing vehicle (LGFV), nabbed $600m on Wednesday in a deal that was led by 14 banks.

English-language training provider Meten International Education Group filed an application with the US Securities and Exchange Commission on Wednesday for its proposed offering of American Depository Shares (ADS).

Chinese issuers were out in force again in the bond markets on Wednesday, with financial companies ICBC International Holdings and Avic International Leasing Co raising $1.15bn between them.

Consumer lending giant Home Credit is planning an IPO in Hong Kong that could raise about $1bn, according to a source familiar with the matter.

Société Générale has moved one of its London bankers to Hong Kong to take over as head of the Asia Pacific debt capital markets syndicate team.

SG moves London banker to run Asia syndicate team — Citi loses head of India DCM — ANZ loans banker to relocate to Singapore — MSCI names Korea client head.

Genuinely new corporate high yield issuers have been vanishingly rare in 2019, but German car interiors maker Novem is bucking the trend with the €375m first time dividend issue it has been marketing this week.

Kanagaroo bond market participants welcomed the prospect of ever lower rates in Australian dollars as four SSA borrowers priced taps over Tuesday and Wednesday.

Two French public sector borrowers are preparing to return to the green bond market, with the latter going on a roadshow to plug its first benchmark issue since 2017.

Associated British Ports is planning to become the first bond issuer to solicit the consent of bondholders to change the terms, so that the coupon switches from Libor to Sonia.