China

Natixis has tied up with Vermilion Partners, an M&A advisory firm, to boost its cross-border advisory business in China.

Hong Kong rolled out the first of its education sector IPOs this year on Monday, as China Xinhua Education Group kicked off bookbuilding to raise HK$1.5bn ($188m).

China-based GreenTree Hospitality Group has kicked off bookbuilding for an up to $349.2m IPO on the New York Stock Exchange, according to a filing with the US market regulator.

Dong Yin Development, a subsidiary of China Orient Asset Management Co, has hit the syndicated loan market for the first time for a $100m transaction, according to a source close to the situation.

Debt bankers in Asia hit a temporary pause button on Wednesday when no dollar deals were launched, as the market recovered from the overwhelming supply in recent weeks. But it was back to business on Thursday, with issuers braving rough conditions to hit the market.

Weak sentiment among investors for duration risk meant Chinese local government financing vehicle Qingdao China Prosperity State-owned Capital Operation (Group) Co sold a larger three year bond than a five year, finding support due to the buy-side’s familiarity with its city.

Greenland Holding Group Company has joined a slew of Chinese property developers issuing offshore renminbi bonds, but it left something on the table for investors to achieve a relatively large size of Rmb1.5bn ($237m).

China’s Tianjin Rail Transit Group Co (TRT) and Chengdu Xingcheng Investment Group Co both dipped into the euro market on Tuesday, with the former printing a green bond.

The US Federal Reserve has admonished Industrial and Commercial Bank of China for falling foul of anti-money laundering rules, saying the lender failed to properly report suspicious activity at its New York branch.

In the fourth and final part of a series of articles on China’s financial transformation, GlobalRMB looks at the commodity trading markets. From the launch of a new energy exchange to the increasing domestic trading of crude oil, gold and iron contracts, the wheels are already in motion for major change.

GAC-Sofinco Auto Finance is preparing to sell a Rmb4bn ($633m) deal in the Chinese asset-backed securities market on March 20, set to be the third foreign name origination in three weeks.

Qatar National Bank has printed two dim sum bonds through JP Morgan, a bank whose commitment to Qatari issuers has been under scrutiny since the Middle East diplomatic crisis erupted in June 2017.