Greater China

Chinese stocks were in freefall this week after Beijing tightened rules for the for-profit education sector, sparking a fresh — and severe — bout of volatility in the equities market. While the timing for new IPOs is far from ideal, there is hope yet for companies, say ECM bankers. Jonathan Breen reports.

It’s funny how every four years we all become increasingly patriotic and turn experts in niche sports we would otherwise never watch.

The Export-Import Bank of China (Chexim) has sold a renminbi-denominated perpetual bond, becoming the first of the country’s three policy lenders to tap the onshore debt market for additional tier one capital. Addison Gong reports.

Chia Tai Animal Husbandry Investment (Beijing) Co, an onshore China entity of Thailand’s Charoen Pokphand Group, is borrowing its first offshore loan directly.

China Everbright Greentech has priced a Rmb1bn ($154m) Panda bond, attaching a ‘carbon neutrality’ label to its return to the onshore market.

Mainland-based Jiayi Education Holdings, an after-school tutoring company, has dropped its Hong Kong listing plan following news of a radical change to China’s education sector.

The Export-Import Bank of China has sold a renminbi-denominated perpetual bond, becoming the first among the country’s three policy lenders to tap the onshore debt market for additional tier one capital.

Chinese biopharmaceutical company I-Mab is moving ahead with plans for a dual listing in Shanghai, as it looks to broaden its investor base.

Avic International Leasing Co turned to the euro market on Tuesday for a sub-one year bond, but the deal’s short tenor and a rough issuance backdrop led to tepid investor response.

ICBC Financial Leasing Co sold a $1.25bn three tranche deal on Monday that was well supported by Chinese banks.

China Lesso Group’s $550m-equivalent dual-currency loan is in the market, with an open invitation for banks to join at three levels.

Fujian Yango Group Co has sold a $250m bond as part of a liability management exercise.