Greater China

Wuhan Metro Group Co’s debut green bond on Wednesday was a landmark for China’s local government financing vehicles (LGFVs), as the company pulled off a $400m perpetual transaction.

Hong Kong conglomerate New World Development Co printed its first green bond this week, raising $310m. While its green efforts were lauded, the company’s lack of rating kept many investors at bay.

Shanghai Junshi Biosciences kicked off pre-deal investor education for its Hong Kong listing this week, following close behind Chinese telecommunications software provider AsiaInfo Technologies.

China-based Mobvista has launched bookbuilding for a potential HK$1.63bn ($208m) IPO in Hong Kong, following the listing success of some of its peers.

As the Chinese offshore bond pipeline continues to build, it is inevitable that issuers will increasingly use anchor order support to get their deals past the finish line. But the reliability of this approach was thrown into question this week, writes Addison Gong.

WuXi AppTec’s Hong Kong IPO is set to be yet another test case of investor appetite for biotechnology names, as the company kicked off its chunky HK$7.5bn ($958m) flotation this week. With all eyes on the offering, its performance in both primary and secondary can have ramifications for other listing hopefuls in the city, writes Christie Ou.

Shandong Iron & Steel Group, Excellence Commercial Properties and Sunshine 100 China Holdings completed their offshore fundraising exercises on Wednesday after announcing their deals with final price guidance.

German carmaker and Panda regular Daimler issued a Rmb4bn ($576m) two tranche private placement this week, ending its Panda issuance for 2018. The issuer kept its focus on a shorter-dated tranche, which made up the bulk of the offer.

Baidu-backed video streaming platform iQiyi opened bookbuilding for a $500m convertible bond on Wednesday after US markets closed.

Shanghai-listed WuXi AppTec has started bookbuilding for its HK$7.5bn ($958.28m) Hong Kong IPO, which has already received good response from international long-only investors, according to a banker close to the deal.

BMW Automotive Finance returned to China's ABS market this week, raising Rmb4.5bn ($575m) from its second deal of the year. But the auto lender tweaked the structure this time, adding a revolving portion.

After testing the market with a single tranche Rmb1.94bn ($284m) note in August, carmaker Geely will launch a bigger deal with a more complex structure.