CITIC Securities

The Chinese securitization market’s growing comfort with auto ABS was on show last week when Dongfeng Nissan Auto Finance was able to double the amount it was able to raise compared to its most recent outing in 2015.

Chinese broker Citic Securities is out with its first outing since October 2014, having opted for a dual-tranche offering split between a 5.5 year and a 10 year tranche.

The race is on for India’s first insurance IPO as ICICI Prudential Life Insurance lines up banks for its up to $400m float.

China Resources Land successfully sold a Rmb5bn (759m) dual-tranche Panda bond this week, becoming the first real estate company to print this format in China’s interbank bond market.

Dongfeng Nissan Auto Finance is set to make its annual return to the ABS market with a Rmb3bn ($457m) VINZ 2016-1 Retail Auto Loan Securitization. But unlike its previous China auto ABS transactions, the company will be selling an additional fixed rate senior tranche when books open on Thursday.

China Oceanwide Holdings has added $200m to its five year bond issued last year, taking advantage of the note’s strong performance in the aftermarket.

BOC Aviation will launch bookbuilding for its $2bn Hong Kong IPO next Monday and is in the process of finalising the involvement of cornerstone investors, according to sources with knowledge of the situation.

BOC Aviation started gauging investor appetite this week for its $2bn IPO in Hong Kong, with books set to open in mid-May.

BOC Aviation has begun investor education for its $2bn IPO in Hong Kong, with pre-marketing expected to continue into the early part of next week, said a source close to the transaction.

Nameson Holdings priced its HK$600m ($77m) Hong Kong IPO near the middle of the range on Wednesday, but bankers still said that conditions are still not ideal for equity capital markets.

Nameson Holdings is braving the pre-Easter lull with a HK$665m ($86m) Hong Kong IPO, which launched on Thursday with the parent of Japanese clothing chain Uniqlo among its cornerstone investors.

The Chinese Panda bond market is starting to heat up with a slew of corporates in the midst of preparing their respective trades.