Greater China

Everbright Sun Hung Kai Co priced a modest $200m bond on Wednesday when most investors were focused on other high profile transactions.

A generous initial guidance from KWG Group Holdings for its $400m bond issuance ended up repricing the Chinese single-B rated curve lower on Wednesday.

Bond Connect investors and service providers are looking at further upgrades for the scheme following the recent move to allow block trading. At the top of the list is a desire among investors to increase their hedging options, which trading platform Tradeweb is working to deliver, the firm tells GlobalRMB.

International law firm Dorsey & Whitney has added four new people to its US-China team in a bid to take advantage of continuous flow of business between the two countries.

The first dollar additional tier one (AT1) deal from a Chinese city commercial bank in almost a year struggled to find its feet in the secondary market on Wednesday.

Industrial Bank Co’s Hong Kong branch has priced a dual-currency green bond, offering a pick-up of around 10bp over recent prints from China’s big four lenders.

Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.

Beijing Enterprises Group is in the market for a HK$4.5bn ($575m) five year term loan launched through eight banks.

China’s Babytree Group has thrown open books for a potential HK$2.2bn ($280.9m) IPO, paring down the size from its original $800m target, according to a banker close to the deal.

Fosun Tourism Group, which is being spun-off by Chinese conglomerate Fosun International, has launched investor education for its Hong Kong IPO as the market falters amid continued volatility.

Chinese steel e-commerce platform Zhaogang.com has kept its plans for a Hong Kong listing alive, resubmitting an updated prospectus to the bourse on Tuesday.

Two Hong Kong IPO hopefuls have taken different approaches to their transactions. Tencent-backed Tongcheng-Elong Holdings launched its smaller listing of up to HK$1.8bn ($232.4m) on Tuesday, while Babytree has put its planned float on hold.