China

Joy City Property, a red chip real estate developer, has picked two banks to manage its Panda bond debut.

Red chip Brightoil Petroleum (Holdings) has picked JP Morgan First Capital (JPMFC) to underwrite its debut Panda bond on Shenzhen Stock Exchange (SZSE). The deal came after JP Morgan exited the joint venture (JV) earlier this year.

Veteran investment banker Chris Howe will join Credit Suisse at the end of September as head of fixed income trading for Asia Pacific.

Jilin Jiutai Rural Commercial Bank Corp revealed its interest in raising additional tier one (AT1) capital from the international bond market on Monday.

China Great Wall Asset Management stumbled into secondary trading late on Friday after its new dollar deal hit delays due to confusion over coupon payment dates.

Chinese e-commerce luxury products retailer Secoo Holding is gearing up for a Nasdaq IPO that will be worth around $100m.

China Securities Regulatory Commission says stock exchanges should take up a more active regulatory role, the discipline commission puts anti-graft official stationed at the Ministry of Finance under investigation, and an index by Bank of China shows an uptick in cross-border renminbi activity in the second quarter.

Saudi Arabia considers issuing its first Panda bond, Ministry of Finance (MoF) plans to roll over Rmb600bn ($90.1bn) of debt by issuing special treasury bonds, and the Chinese premier piles pressure on state-owned enterprises (SOEs) directly owned by the State Council to deleverage more rapidly.

Carnival Group International Holdings said its HK$2bn ($260m) rights issue will be available for subscription by Stock Connect investors in the Mainland.

A DBS-led syndicated loan for photovoltaic power plant developer Beijing Enterprises Clean Energy has been increased to HK$1.78bn ($227.5m) from HK$1.2bn.

Chengdu Dongfang Guangyi Investment Co will sell bonds in US dollars, according to a local authority.

Chinese banks have long played a leading role in Asia’s syndicated loan market through their Hong Kong branches. But a greater use of onshore branches, as well as those based in the West, is presenting new opportunities for borrowers in the region. Shruti Chaturvedi reports.