China

Babytree Group and Tongcheng-Elong Holdings hit the market with their Hong Kong IPOs at an unfortunate time and volatility forced both companies to take a knife to their fundraising targets. But their moves may pay off in the long-term.

Agricultural Development Bank of China (ADBC) has dipped into the euro market for the first time to diversify its investor base, despite having no real need for the currency and having to pay up for the fundraising.

Shanghai Industrial Holdings is talking to relationship lenders for a refinancing of HK$2bn-HK$3bn ($255.4m-$383mm).

Belarus is working to issue its first sovereign Panda bond, GlobalRMB understands.

Europe’s banks continued to lose global significance, according to the Financial Stability Board’s 2018 list of global systemically important banks (G-SIBs), although Groupe BPCE was re-added to the list. The French bank says this will not affect its funding plans.

Chinese online educator Koolearn Technology Holding has launched investor education for its Hong Kong IPO at a time when the Mainland government is stepping up regulation of the private education sector.

A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.

Country Garden Holdings is looking to issue a new convertible bond to refinance a billion-dollar CB coming up for maturity in early 2019, according to a banker familiar with the matter.

In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.

Chinese conglomerate HNA Group’s Hong Kong Airlines is in talks with lenders for a new borrowing, two loans bankers have told GlobalCapital Asia.

Kaisa Property Management Group, a subsidiary of Kaisa Holdings, is pushing ahead with its IPO, starting to gauge investor interest this week.

Sixteen months after receiving its Panda issuance quota, Sun Hung Kai Properties (SHK) raised Rmb1.2bn ($173m) from its debut deal, pulling off the cheapest two year Panda bond in 2018.