China

Chinese video streaming platform iQiyi filed a draft IPO prospectus with the US market regulator on Tuesday. It is aiming to raise up to $1.5bn from its listing this year.

Impro Precision Industries is seeking a Hong Kong listing with Morgan Stanley as the left lead and a sponsor alongside BOC International.

Bank of China, Industrial and Commercial Bank of China and Industrial Bank Co have raised close to $3.7bn from eight fixed and floating rate tranches in three currencies. But most of the portions had to offer a new issue premium, which ranged from a few basis points to as much as 15bp.

Central China Real Estate, Hubei Science & Technology Investment Group Co and Shui On Land jumped into the offshore debt market on Monday, getting ahead of a growing line of issuers.

China’s plans to adopt a market-driven IPO approval process will be pushed back by another two years, according to the official Xinhua news agency.

Germany's RMB hub has seen slow action since its establishment in 2014, but a Bond Connect service established by Clearstream and the upcoming offering of D-shares on the China Europe International Exchange (Ceinex) could turn things around.

Asia’s debt market is heading into March at full speed with seven issuers opening new deals on Monday. Borrowers need to be quick on their feet and act promptly over the next month to get their bonds past the finish line, said bankers in the region.

The Communist Party changes the constitution to allow Xi Jinping to serve a third term as president, banking watchdog standardises market entry rules for local and international banks, and China’s legislature approves a two-year extension for the registration-based IPO system.

Bright Scholar Education Holdings is out with its first follow-on offering since its IPO last May, and is gunning for about $200m.

Sunlands Online Education Group is planning an up to $300m IPO of American Depository Shares (ADS), according to a draft prospectus submitted to the US regulator on February 23.

Outstanding bonds issued by Vivat NV, the Dutch insurance group, suffered on Friday morning after its parent company Anbang Insurance Group was seized by Chinese authorities — but a sale to a European firm could provide an upside for bondholders.

Redco Properties Group priced an opportunistic transaction on Thursday, raising a larger-than-expected $300m. Unlike some other 364-day deals, its transaction saw strong support from real money accounts.