Greater China

Shaanxi Xixian New Area Fengxi New City Development and Construction (Group) Co, a lower-tier Chinese local government financing vehicle (LGFV), has raised $120m in the bond market ahead of a December maturity.

Insurance company FWD Group’s $1.8bn acquisition loan is set to close by the end of November, with two more banks still expected to join the syndicate group.

A group of shareholders in GSX Techedu has launched a follow-on offering of the Chinese education technology firm’s US-listed stock.

Standard Chartered has appointed Simon Kellaway as regional head of securities services for Greater China and North Asia.

Nomura has appointed Abhishek Tiwaari as head of loan capital commitments and syndicate for Asia ex-Japan, a newly created position within the bank’s client financing and solutions (CF&S) unit.

Chinese property company Agile Group Holdings wrapped up its bond issuance for the year on Monday, raising $200m from its fourth deal of 2019.

Chinese dollar bond defaulter Huachen Energy missed another coupon this week, after two late interest payments in November 2018 and May this year as a result of a liquidity crisis at its onshore parent, Wintime Energy.

In this round-up, top negotiators from China and the US held a phone call on Saturday, the China Securities Regulatory Commission (CSRC) accused CEFC Shanghai Securities Co of illegal activity and the Hong Kong police stormed the city’s Polytechnic University after a tense weekend.

Harbin Bank, a city-level Chinese commercial bank, has become the fourth bank to get state backing following the regulators’ landmark move to take over Baoshang Bank in May.

Alphamab Oncology, a Chinese biopharmaceutical company, kicked off pre-deal investor education for a potential $250m IPO on Monday after gaining approval to list from the Hong Kong Stock Exchange.

Citi has named Ken Chow and Udhay Furtado as co-heads of Asia equity capital markets, according to an internal memo seen by GlobalCapital Asia.

Beijing Properties (Holdings) has returned for a $100m borrowing and a source close to the situation said syndication is unlikely to be difficult, despite some banks being averse to lending to the real estate industry.