Greater China
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Chinese internet company Ruhnn Holdings is planning to list American Depository Shares (ADS) on the Nasdaq. -
Bank of China paid a visit to the euro bond market on Wednesday, raising €500m through its Paris branch. It was just the latest Chinese financial institution to fund in the currency.
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China Yongda Automobiles Services Holdings has tapped the offshore market for first time, for $250m, while Hong Kong’s Chow Tai Fook has launched a HK$6bn ($764m) loan into general syndication after attracting seven banks at the senior level.
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Goldman's Richdale joins KKR – JPM hires Wong from BofA – Fubon recruits from ANZ loans – Natixis names head of PB – Deutsche promotes two for sponsors – ABN opens shop in Australia – MSCI backs China A-shares
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To quote the late, great Karl Lagerfeld: “Sweatpants are a sign of defeat.” I only wish today’s youth would take those words of wisdom to heart.
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BMW issued its first Panda bond on Wednesday, raising Rmb3bn ($447m) in a deal that one of the lead managers hailed as a "milestone” in opening up China’s domestic bond market to foreign issuers.
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Charles Pitts-Tucker has been promoted to international head of investment banking at Nomura, alongside a string of other moves at the Japanese bank.
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Hon Hai Precision Industry Co offered Asian investors a welcome change this week, bringing a rare single-A trade following a glut of high yield issuance this year.
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China car dealership company China Yongda Automobiles Services Holdings has tapped the offshore market for first time, raising $250m after it sealed a Rmb800m ($123m) debut syndicated loan onshore last year.
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SAIC-GMAC, one of the first issuers in China’s auto loan ABS market, returned with a Rmb10bn ($1.49bn) three-tranche transaction this week.
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Fantasia Holdings, a property developer in China, priced a Rmb1bn ($149m) 1.5 year dim sum bond on Tuesday. But the issuer had to pay 11.875% to get the deal done.
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Coke-based chemicals company China Risun Group has raised HK$1.68bn ($214m) after sealing its Hong Kong IPO just off the bottom of price guidance.
