China

China-based Rise Education has wrapped up a Nasdaq IPO worth $159.5m after pricing the stock above the initial guidance range, according to a source close to the deal.

Two credit rating downgrades of Dalian Wanda Commercial Properties (DWCP) have put its offshore loans in lenders’ cross-hairs. DWCP is talking to its lenders, who have the power to force an acceleration of payments. Shruti Chaturvedi reports.

Baidu has picked banks to list its video streaming arm in the US, as a host of Chinese issuers stormed into Wall Street this week for their IPOs.

China Minsheng Bank has named Sheau Huei Wang as the new head of syndicated finance, succeeding Foster Lee who left the firm earlier this month.

Qudian priced its $900m US float above the initial range this week, then soared as much as 48% on its debut, underscoring investors’ ravenous appetite for Chinese fintech stocks.

China is preparing to challenge South Korea as the tightest-priced sovereign issuer in Asia, as it lines up its first dollar bond in a decade next week. The market expects China to take an aggressive approach for the deal, which could reset the curve for all of the country’s debt issuers. Morgan Davis reports.

China will not amend the RMB trading band in the near term, Zhou Xiaochuan, governor of the People’s Bank of China, said on October 19. Zhou made the remarks shortly after the central bank defended its recent changes to the FX rate mechanism in a report.

China Grand Automative Services Co, a car dealership, is readying a return to the international debt market, hiring two banks for a senior perpetual bond.

Zhongrong Xinda Group Co and Jiangsu Nantong Sanjian Construction Group Co (JNTC) are set to make their debuts in the international bond market on Thursday, as Tongchuangjiuding Investment Management Group Co returns for a tap.

The market for credit default swaps (CDS) in China is still in its very early stages, but the government is looking to promote their use and the first foreign bank has already got involved.

China Merchants Bank is marketing its inaugural dollar-denominated Basel III additional tier one transaction, which analysts say is attractive to investors.

China Development Bank Financial Leasing Co priced its 5.5 and 10 year bonds inside its curve on Tuesday, amid a busy day for Asia’s primary bond market.