Greater China
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In this round-up, Ping An Bank’s latest convertible bonds broke demand record, state-owned enterprises posted strong growth, and Traiana partnered with Hong Kong Exchange and Clearing to provide OTC clearing. -
In this round-up, the People’s Bank of China launched the first targeted medium-term lending facility (TMLF), a central committee for deepening reform signed off on Shanghai tech board launch, and the central bank set up bills swap to support banks’ perpetual bonds.
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Hong Kong-listed Wharf Holdings, whose operations span property development and investment, is seeking a HK$8bn ($1bn) borrowing at tight levels.
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Chinese drug developer Luye Pharma Group has closed a $300m loan after a five-month syndication.
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Ping An Real Estate seeks $300m — ICTSI tests appetite for €260m — Huifeng Petrochemical debuts with $200m
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China Evergrande Group raised $3bn with a tap of three of its existing bonds, but the issuance put a dent in its secondary curve as noteholders fled to the juicier new deal.
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BAML brings in Australia ECM chief – Credit Suisse names Indonesia IB head – Goldman appoints TMT co-lead – Eastspring hires new CEO – BOC lends to Sri Lanka – FTSE Russell tracks Chinese green bonds
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Profit Reach, an investment vehicle owned by Chinese billionaire Shen Guojun, is seeking a $550m refinancing loan with a rare put option provided to lenders. The deal has raised debate over whether the structure can catch on in Asia. Pan Yue reports.
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Bank of China has received the green light to raise as much as Rmb40bn ($5.88bn) from a perpetual additional tier one bond in its domestic market, opening a new funding channel for Chinese banks. But although a flagship bank is leading the way, smaller institutions may find the perpetual format more compelling. Rebecca Feng reports.
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Club-style Chinese deals were back this week as Peking University Founder Group Co raised $150m from a three year bond and Yankuang Group grabbed $215m.
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Goldman Sachs has appointed Jung Min as co-head of its Asia Pacific ex-Japan technology, media and telecom group.
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The steep drop in equity capital market volumes in Asia this year is not worrying bankers just yet, as they set their sights on a pick-up in deal flow after the Chinese New Year holiday in early February.
