China

Senior debt capital markets banker Pramod Shenoi joined independent research firm CreditSights at the end of last year.

Asian bond issuers went full speed ahead with their fundraising plans on Monday, launching new deals ahead of Chinese New Year holidays at the end of the month.

Hong Kong-listed MicroPort Scientific Corp is looking at spinning off and listing its heart treatment subsidiary, according to a stock exchange filing.

In this round-up, China’s central bank cut the required reserve ratio by 50bp on Monday, domestic financial institutions have been told to price loans based on the new benchmark and regulators have published draft rules on dealing with corporate bond defaults.

I-Mab, a China-based biopharmaceutical company, has kicked off the roadshow for its up to $111.1m Nasdaq IPO, more than two months after filing draft documents with the US regulator.

Struggling Spanish construction group Aldesa saw a Christmas bounce in its Caa1-rated bonds, following a December 25 takeover deal and capital injection from China Railway Construction Corporation.

Property manager Central China New Life is planning to list in Hong Kong in the first quarter, said a source familiar with the transaction.

Smoore International Holdings, a manufacturer of vaping technology, is lining up a Hong Kong IPO of more than $500m in the first quarter of 2020, according to a source familiar with the matter.

Industrial Securities (Hong Kong) Financial Holdings, Zhengzhou Zhongrui Industrial Group Co and Shandong Iron & Steel Group Co priced international bonds during the last days of 2019, capping a strong year for Asia’s debt market.

It is set to be a busy start to 2020 for the Hong Kong Stock Exchange, with three live IPOs in the market. The most recent launch came from Shanghai Gench Education Group, which hit the road with a HK$773m ($99.2m) deal on Thursday.

Chinese solar power operator Panda Green Energy Group has extended the deadline of a distressed exchange offer. The new note issuance will now be finalised in the same week that its $350m bond becomes due.

In this round-up, Chinese president Xi Jinping headed to Macau for the 20th anniversary of the handover, the National People’s Congress will hold a fourth reading of the Securities Law next week and the People’s Bank of China (PBoC) has lowered the 14-day reverse repo rate.