Citi

Nigeria was on Wednesday able to print the full size of the bond issue approved by its parliament, paying up for the privilege but drawing praise for managing a market that proved too tough for many.

Chinese local government financing vehicle (LGFV) Sichuan Transportation Investment Group Corp raised $350m from a three year bond on Wednesday, piercing through the secondary trading levels of its closest comparables.

Chinese bank ICBC was forced to cancel its dual-tranche bond on Wednesday as a result of market conditions.

Hong Kong IPO hopefuls Babytree Group and Tongcheng-Elong Holdings announced deals drastically smaller than their initial targets this week. But despite the clear sign of trouble in the market, a few more Chinese companies are considering pushing ahead with their own listings before the end of the month. Jonathan Breen reports.

Nigeria is back in capital markets, undeterred by a volatile backdrop that has kept other borrowers from accessing the market.

Industrial Bank Co’s Hong Kong branch has priced a dual-currency green bond, offering a pick-up of around 10bp over recent prints from China’s big four lenders.

Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.

Fosun Tourism Group, which is being spun-off by Chinese conglomerate Fosun International, has launched investor education for its Hong Kong IPO as the market falters amid continued volatility.

Chinese steel e-commerce platform Zhaogang.com has kept its plans for a Hong Kong listing alive, resubmitting an updated prospectus to the bourse on Tuesday.

Russian giant Gazprom and Ukrainian oil and gas firm Naftogaz, who have been locking horns in court, both chose Tuesday to release price guidance for new Eurobonds. The Gazprom deal will be the first public international bond from a Russian issuer since the US sanctions that shook the market in April. The Naftogaz bond is its first since 2009.

Nigeria hit screens on Monday afternoon to announce a roadshow for a triple tranche dollar bond, confirming rumours of a planned capital markets return that began circulating last week.

Citi is looking to strengthen its solo operations in China at the same time as seeking a new partner for a majority-owned securities joint venture, GlobalCapital Asia understands.