China

Malaysian lender Maybank priced its first onshore renminbi bond on July 21, with the Rmb1bn ($148m) three year deal closing books early in the afternoon.

A US pension fund has filed a class action lawsuit against ZTO Express and the banks that underwrote its $1.4bn IPO on the New York Stock Exchange last year.

The Eastern European sovereign announced the price guidance for its three year debut Panda bond on July 25, after agreeing on a Rmb3bn ($445m) Panda programme with onshore authorities last week.

In this round-up, net sales under the mutual recognition of funds (MRF) are approaching a combined volume of Rmb1tr, Neuberger Berman (NB) adds China equity capabilities, and Russian lender Sberbank joins the international board of the Shanghai Gold Exchange.

Zhejiang Provincial Energy Group is making its loan debut, seeking $300m to repay its dollar bond. As heightened regulatory scrutiny crimps liquidity onshore, Chinese borrowers are slowly looking to take the loan route — reigniting the age-old debate of loans versus bonds, writes Shruti Chaturvedi.

Chinese state-owned Shandong Energy Group Co sealed a popular $300m three year debut on Wednesday off the back of a $3.2bn book, thanks to its strong government support and the attractive yield on offer.

China's State Council grants PBoC more power — Citic CLSA loses ECM syndicate head — UBS beefs up Asia DCM — StanChart hires two for loans — BAML debt banker makes exit — SGX brings back lunchtime break

Chinese state-owned Sinochem International Corp raised $300m from a five year bond on Tuesday, ending with a robust book of $2.6bn after wooing investors to its investment grade credentials.

After a dire first half of the year, the Panda bonds market had a busy week with five issuers either pricing their deals or revealing their intention to come to the market. While red chip real estate names still make up most of the pipeline, sovereign and local government issuers are starting to get a piece of the action, with Hungary and the Province of British Columbia (BC) leading the way.

Panda bonds are finally coming back to life after a dire first half. But although all the conditions are in place for an issuance boom, there is reason to doubt quite how high volumes will go.

China Life Insurance (Overseas) Company is marketing a 10 non call five subordinated bond on Thursday, capping the deal size at $250m.

Waste-to-energy firm China Jinjiang Environment Holding Company (CJE) kicked off its debut dollar offering on Thursday morning.