China

Four mandated lead arrangers and bookrunners have rolled out Chinese e-commerce firm JD.com’s debut borrowing into syndication at razor-thin pricing levels.

Chinese steel maker Shougang Group Co took advantage of an impressive rally in its outstanding notes to bag a new bond on Monday, with a strong peak order book of $4bn allowing it to slash pricing substantially.

Unis Leasing, a unit of Shenzhen-listed technology company Unisplendour Corp, has approached offshore banks for the first time with a $100m syndicated borrowing.

Hang Lung Properties is preparing its first Panda bond, aiming to raise Rmb2bn ($302.7m) from a three year note on the interbank market.

Paper and pulp company APP China is testing investors’ appetite for an unrated dollar bond, about 15 years after its Indonesian parent Asia Pulp & Paper Group defaulted on close to $14bn of debt.

Chinese state-owned Qinghai Provincial Investment Group Co is returning to the debt market for the third time in 2017, but is opting for a short-term note this time around.

Renminbi internationalisation could give China greater influence over global asset prices in the next decade, but only if regulators can manage to internationalise the currency without destabilising its exchange rate, according to KPMG and Global Financial Markets Association (GFMA).

Citi is planning to add at least 25 bankers to its Belt and Road coverage team over the next couple of years amid a pick-up in interest from clients.

Singapore-based internet company Sea has kicked off pre-marketing for a US listing that could raise up to $1bn, according to a banker close to the deal.

Industrial and Commercial Bank of China is jumping on the green bandwagon, hiring firms to work on its inaugural green deal denominated in dollars and euros, to be sold through its Luxembourg branch.

How investors hedge their new RMB bond exposures was a topic of great debate ahead of the Bond Connect launch, and it is still a partially open question.

In an unusual debut in the Panda bond market, television manufacturer Skyworth approached investors with an equity-backed note. The effort grabbed attention and helped Skyworth bag Rmb2bn ($303.6m) – the maximum it could raise – from a five year non put three on the Shenzhen Stock Exchange on September 19.