Banks

Hong Kong-listed natural gas distributor China Gas wrapped up the year with a Rmb1.3bn ($188m) Panda bond, once again raising double its original fundraising target.

Shimao Property Holdings managed to raise a sizeable $570m from its bond return on Monday, using up the last of its annual fundraising quota. But to get to the chunky size at this time of the year, the Chinese company had to offer investors a generous premium.

Nicholas Chia has left OCBC to join CLSA as the Citic Securities-owned brokerage looks to build out its southeast Asia equity capital markets franchise.

Société Générale is working to offer its clients direct clearing capabilities in the eurozone by the end of the year, as it launches an offering in Paris for listed and OTC derivatives.

Changing emphasis from national regulators could give European banks more incentive to refinance additional tier ones with low common equity tier one triggers in the next couple of years, according to analysts at research house CreditSights.

JP Morgan has picked up a banker from NatWest Markets to trade sterling SSAs.

Rating: Baa3/BBB/BBB

Xinyi Energy Group is looking to make its debut on the Hong Kong Stock Exchange at the end of next week, as it seeks up to HK$4.5bn ($582.3m) from its IPO.

Ever Sunshine Lifestyle Services Group has pocketed HK$638.4m ($81.7m) after pricing its IPO below the mid-point of guidance, according to a source close to the deal.

Shanghai Junshi Biosciences has kicked off bookbuilding for its potential HK$3.24bn ($414.4m) IPO.

ING completed a deal in the Tokyo Pro-Bond market this week, raising over $1bn equivalent on a week in which it could not find acceptable demand in dollars. It was also able to distribute notes to regional banks before debt counting towards total loss absorbing capacity (TLAC) weighs more heavily on those buyers’ balance sheets.

Kookmin Bank has issued the second Korean covered bond of this year but the first in dollars and its first in more than two years.