Greater China

Chinese technology giant Baidu grabbed $1bn from a bond on Thursday, while a local government financing vehicle (LGFV) in Hunan raised $300m from a deal that was less than twice covered at its peak.

China Development Bank Financial Leasing Co (CDB Leasing) raised $400m through its aviation leasing arm on Thursday, paying around 10bp of new issue premium for a three year floating rate note.

State officials provide strong verbal commitment to private sector development, the China Securities Regulatory Commission promises more stringent stock trading suspension rules, and China’s State Council says it will enhance the domestic business environment for domestic and foreign companies.

In this round-up, China’s foreign reserves in October decrease $34bn due to the stronger dollar, monthly exports climbed more than expected, Singapore Exchange signed cooperation agreements to develop more opportunities for Chinese enterprises in Singapore.

The China Securities Regulatory Commission has given Tianqi Lithium the go ahead to list on the Hong Kong Stock Exchange.

TFI Tab Food Investments, the owner of the Burger King chain in Turkey and China, has formally withdrawn its $220m IPO in the US after delaying it in February.

Goldman Sachs has restructured its capital markets teams in Asia, naming new co-heads for the equity and credit units.

UBS hires for China strategy – New tech board for Shanghai – HKEX eyes blockchain for Stock Connect – PBoC warns against Evergrande, Fosun, HNA

Equity fundraising activity in Asia should not be dampened by any impact from the US mid-term elections, market observers said this week. However, issuers are set to stay on the sidelines while they await more clarity.

Hong Kong-listed Man Wah Holdings and China Water Affairs Group are seeking offshore loans of $100m and $200m respectively.

Shenzhen International Holdings is set to issue its second Panda bond, seeking an ambitious Rmb4.7bn ($678m). Regular issuer GLP is also planning a comeback.

I’ll admit I often took pleasure in firing an underling back in my day, feeling a perverse sense of satisfaction in asserting my authority and punishing wrongdoers.