Greater China

Instant noodle maker Tingyi (Cayman Islands) Holding Corp was back with a $500m deal on Thursday after an eight-year hiatus from the dollar bond market.

Bond sales from Chinese issuers continued unabated on Thursday despite heavy supply in the first half of the week, with firms raising a combined $1.1bn from the debt market.

Formosa Plastics Corp is seeking a $2bn loan that bankers expect to be priced at a record low for borrowers from Taiwan, setting a benchmark for future transactions.

The People’s Bank of China has started to allow banks seeking quotas to sell non-performing loan securitizations to shift from the old approval-based system to a registration-based system, onshore bankers told GlobalCapital China this week. The reform is set to speed up the pre-issuance phase and ease banks’ increasing pressure to dispose of bad loans.

Industrial and Commercial Bank of China raised a smaller than planned $2.9bn from its additional tier one outing, buffeted by a surge in supply this week and a softer market backdrop. Alice Huang reports.

Haitong hires IB vice-chairman – Bank of America recruits from HSBC

US-listed Chinese companies Zai Lab and Baozun have kicked off secondary offerings on the Hong Kong Stock Exchange, adding further momentum to the city’s already hot equity capital market.

Bank of China took yet another step this week to build China’s sustainability market by selling Asia’s first blue bond to benefit ocean-related projects — opening the door for similar deals from the region. Morgan Davis reports.

Hong Kong Broadband Network is enticing banks to a HK$5bn ($645m) loan by offering them a juicier margin than previously.

Beijing Construction Engineering Group has returned to the debt market for a $350m term loan.

China’s Avic International Holding Corp raised $300m from its bond outing on Tuesday.

Ganfeng Lithium, the world’s largest producer of lithium metals, has raised HK$1.46bn ($187.8m) from the sale of primary shares.