China

In this round-up, onshore securities houses receive their 2021 annual rating, the central bank requires pre-reporting from non-bank payment firms to go public, and the private education industry in China faces tough new regulations.

China Telecom Corp has got the nod from the Chinese securities regulator for a Shanghai listing which, if launched in the second half, could set the record for the largest IPO in the world this year.

Shandong Iron and Steel Group Co raked in $500m this week, as investors welcomed the long-term prospects of the Chinese company.

Ping An Real Estate Co raised a total of $600m from two tranches of green bonds on Thursday, capping a strong week for sustainability related transactions in Asia.

China Citic Bank International has sold a $600m Basel III compliant additional tier one bond, ahead of plans to call one of its other bank capital trades later this year.

China Evergrande Group took a hit to its stock and bond prices this week after a series of negative headlines rattled the market. While the sell-off had some reprieve on Thursday, bankers and analysts said the worst is not over yet, writes Addison Gong.

Borrowers from Greater China rolled out five new bonds on Wednesday to raise more than $2bn between them.

Aluminum Corp of China (Chalco) sealed a $1bn bond this week, pricing both tranches of the deal inside some fair value estimates.

Financial services company Far East Horizon has raised $200m from a convertible bond, its second CB in as many months.

A leading shareholder in WuXi Biologics (Cayman) has pocketed HK$10.3bn ($1.3bn) after offloading a chunk of the company’s shares.

CMB International has hired Branson Song, a veteran equity capital markets banker, as head of its ECM business.

If there is one year where Asia’s bond market needs to slow down for the summer, and then emerge stronger and better, it’s 2021.