Greater China

Regulator removes ownership limit in Chinese banks for international lenders, China’s central bank vows support for businesses amid trade war escalation, Beijing and Washington fail to reach concrete agreements after two days of discussions.

Chinese regulators flipped the switch on delivery-versus-payment (DVP) for Bond Connect on Friday morning, meeting a key demand that market participants have made for over a year.

Redco Properties Group sold a $200m two year bond on Thursday, joining a growing list of issuers that have relied on anchor support for their fundraisings.

UBS has hired Boyang Liu as an associate director on the debt origination team.

Chinese agribusiness company New Hope Group has returned to the loan market for an up to $150m borrowing to refinance a deal sealed in 2015.

The Hong Kong bourse saw a raft of IPO filings this week, as issuers made a beeline for what could be a bumper September for new share sales.

We’re eight months into the year, and I’ll admit that my New Year’s resolutions have fallen by the wayside. Although, in all honesty, my “plans” to cut back on the whiskey and take more exercise were more Tai Tai’s ideas than mine. But one friend of mine has – surprisingly – stuck by his goals.

At least $8bn in IPOs from Asian issuers could hit screens in September alone, if everything goes according to plan. But with investor sentiment still on the rocks despite the mid-year lull coming to a close, equity capital markets bankers are hoping for a swift end to what has been a summer of volatility. John Loh reports.

The first onshore China default from a local government financing vehicle (LGFV) has come as a shock to bankers and investors, but the negative news has not had a big impact on sentiment in the international bonds market. One LGFV sold a dollar bond this week and more are lining up, writes Addison Gong.

Taiwan’s leveraged loans market is finally set for some action, with private equity firm KKR seeking a $1.1bn-equivalent dual-currency deal to back its acquisition of LCY Chemical Corp. But uncertainties remain over whether the acquisition will get the government’s go-ahead.

Chinese bond issuers were the first out of the gate on Thursday, vying for investors’ attention after public holidays in many parts of Asia shut markets on Wednesday.

While discussions around the possibility of a formal Southbound channel for Bond Connect continue, Chinese regulators have been testing the ground with new initiatives that allow onshore securities houses to tap overseas bonds, GlobalRMB has learned.