China

Agricultural Bank of China International raised $800m from a fixed and floating combination deal on Wednesday.

X Financial opened books on Thursday for a $121m listing on the New York Stock Exchange, as bankers believe the worst is over for China’s beleaguered peer-to-peer lending sector.

Shandong Gold Mining launched a HK$6bn ($767m) Hong Kong IPO on Thursday, seeking funds to pay for the acquisition of an Argentinian mine — its first overseas asset.

Bank of China (Hong Kong) has raised $3bn from a Basel III compliant additional tier one transaction, drawing attention for both its size and price.

Nio, the electric car company nicknamed China’s Tesla, priced its $1bn New York Stock Exchange IPO on Wednesday off the floor.

China Southern Power Grid Co (CSG) made its second foray into the debt market on Tuesday, wooing investors to its $1bn issuance with a juicy price.

Viomi Technology, the internet-of-things affiliate of Chinese smartphone maker Xiaomi, opened books on Tuesday for its $125.4m Nasdaq flotation.

In this round-up, the White House administration is lining up tariffs covering the entirety of Chinese imports, the People’s Bank of China further relaxes cross-border renminbi trading rules, and Bond Connect’s trading platform Tradeweb goes live with block trading.

Asia Cement’s first convertible bond (CB) sale in five years was priced at the best end of terms for investors, which bankers away from the deal said was “extremely cheap”.

BMW Automotive Finance (China) Co is making its first foray into the ABS market this year, with bookbuilding for the Rmb4.5bn ($656m) Bavarian Sky China 2018-1 set to start next Monday.

Chinese state-owned enterprises (SOEs) Poly Real Estate Group Co and China Minmetals Corp took different approaches to pricing their dollar bonds on Monday, resulting in diverging secondary market performances.

JP Morgan doubled a tap of its exchangeable bond (EB) linked to shares of Ping An Insurance (Group) Company of China, raising $100m on Monday.