Greater China
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Socam Development, part of the Shui On Group, became a victim of a weak market backdrop this week, pulling a planned dollar bond after investors balked at its pricing expectations. Addison Gong reports. -
Bankers were surprised that the African Development Bank placed a one year bond last week linked to environmental, social and governance (ESG) factors.
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Chinese logistics company Best has sealed a $175m convertible bond, benefitting from a jumbo anchor order from Alibaba Group Holding.
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Chinese acoustic components maker GoerTek is making a comeback to the loan market after a two-year break, seeking $300m for refinancing.
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In this round-up, China’s industrial profit growth further declined, Chinese state media has hinted at more peacemaking gestures to the US and the London Stock Exchange (LSE) rejected the Hong Kong bourse’s acquisition offer in a strongly worded letter.
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China’s JA Solar Holdings, which was taken private last year, has returned to the offshore loan market, inviting banks to join a $100m facility.
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The African Development Bank has issued its first offshore renminbi bond, in what the supranational has described as a ‘strategic objective’ in response to a growing investor base for the currency.
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The Bank of East Asia returned to the market with a Basel III-compliant additional tier one (AT1) deal, paying no premium despite reporting disappointing interim results for the first half of 2019 and amid the turmoil in Hong Kong SAR.
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Warehouse construction form and lessor ESR Cayman has revived plans to list in Hong Kong, three months after pulling a possible billion dollar IPO mid-roadshow.
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Moody’s has promoted Wendy Cheong as regional head for Asia Pacific, according to a press release.
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Kenny Chan, head of syndicated finance and corporate advisory at Hang Seng Bank, has left the lender, according to sources.
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In this round-up, China’s consumer price index (CPI) inflation remained unchanged in August, total social financing saw steady traction and Huawei Technologies is poised to issue its first onshore bond.
