China

HSBC has tapped two of its veteran bankers as Guangdong co-chief executives, as part of the bank’s push in the Pearl River Delta (PRD) region.

VTB Capital is encouraging Russian borrowers to consider the dim sum market as a supplementary source of funding because their access to core markets has been restricted since the US imposed sanctions in April. However, the potential scale of the dim sum market is limited.

iDreamSky Technology Holdings has pocketed HK$838m ($107.1m) after pricing its IPO just below the mid-point of guidance, according to a banker close to the deal.

Grand Baoxin Auto Group took $358m from the syndicated loan market after launching its latest deal at $200m in September.

Chinese property developer KWG Group Holdings executed a swift tap last Friday to use up the rest of its fundraising quota for the year, adding $150m to its coffers.

Chinese brokerage Huatai Securities has won approval from the Mainland regulator to list Global Depository Receipts (GDRs) in London through the connect scheme with Shanghai.

China’s Kunming Dianchi Water Treatment has launched its debut offshore loan of $150m.

In this round-up, Donald Trump and Xi Jinping agreed to hold back from new tariffs for 90 days, Bloomberg received the green light from China Foreign Exchange Trade System (Cfets) to become the new trading platform for Bond Connect and CIBM Direct, and UBS obtained approval to acquire a majority share of onshore joint venture UBS Securities.

Three Chinese borrowers with education businesses are seeking funds from retail lenders in syndication.

Power Construction Corporation of China (PowerChina) guaranteed a dollar bond for its real estate arm on Thursday, with the notes tightening by two basis points in the secondary market.

Baidu’s video streaming platform iQiyi has raised $650m after pricing its bigger convertible bond at the investor friendly end of guidance.

Fosun Tourism Group, a subsidiary of Chinese conglomerate Fosun International, is being spun-off and has started bookbuilding for its HK$4.28bn ($547.19m) Hong Kong IPO.