China

Chinese real estate developer Country Garden has returned to the loan market, seeking $1bn from a deal helmed by six banks.

E-commerce giant Alibaba Group Holding’s planned IPO of up to $20bn in Hong Kong is set to trigger a wave of other technology listings in the city, if successful. The timing couldn’t be better, as the US sets its sights on Chinese companies listed in New York. Gina Lee and Jonathan Breen report.

Shanghai’s new high-tech board is set to welcome its maiden IPO after Suzhou HYC Technology Co kicks off its roadshow on Friday. The company will be the first Chinese issuer to use a market-driven price discovery process for its Rmb1.01bn ($145m) float, but bankers on the mainland have little doubt the deal will be a success. Rebecca Feng reports.

China’s recent measures to curb local government debt by restricting new offshore issuance from their financing vehicles led to one of the busiest weeks for the sector, as companies raced to beat the June 30 deadline when their regulatory quotas expire, writes Addison Gong.

Chinese video-based social media platform YY pocketed $850m from a well-timed dual-tranche convertible bond. The deal — launched after repeated indications of interest in US-listed stocks — landed on a burst of risk appetite that followed US president Donald Trump’s tweet confirming his meeting with Chinese leader Xi Jinping at the G20 gathering in Japan next week. Jonathan Breen reports.

China’s Ministry of Finance has sold its first offshore renminbi bond of 2019, raising Rmb5bn ($729m) on Thursday.

Baoshang Bank’s takeover by the People’s Bank of China, and the continuing after-effects on the country’s banking sector, have forced regulators to adopt short-term measures to save smaller and weaker banks and securities houses.

Peking University Founder Group Co raised $250m in a two year bond trade on Wednesday, using up the last of its offshore issuance quota, and shaking off investor concerns about its ongoing litigation.

Equity investors have poured cold water on the notion that a US Federal Reserve interest rate cut this year would be enough to offset the damage to capital markets that a prolonged trade stand-off between the US and China would cause.

Chinese property manager JY Grandmark Holdings is looking to raise up to $200m from an IPO in Hong Kong, according to a source close to the deal.

Nasdaq-listed Chinese social media platform YY hit the market with an $850m dual-tranche convertible bond on Wednesday.

Biotechnology company WuXi Biologics Holdings has completed a HK$3.81bn ($487m) sale of a part of its stake in subsidiary WuXi Biologics (Cayman), its second sell-down in the stock in less than three months.