Greater China

Taiwanese financial conglomerate Shin Kong Financial Holding Co is planning a domestic rights offering, an issuance of global depository receipts (GDR), or a combination of the two to raise capital.

GCL New Energy is opting to use a club route for a $150m loan, mandating Credit Suisse as the sole mandated lead arranger and bookrunner, according to sources.

China’s Qinghai Provincial Investment Group Co was forced to pay up around 75bp in new issue premium to complete a $250m bond on Friday, as investors voiced their scepticism about the low rated issuer.

China’s Gangtai Group Co and Yango Group Co both sold bonds with 1.5 year tenors at the end of last week, catering to the Asian buy-side’s demand for short duration. Their transactions have raised expectations of more short-term issuance from high yield companies.

China’s OneSmart International Education Group opened books for its $211.9m IPO of American Depository Shares (ADS) on Monday.

While underwriters in the international markets tend to have an important role in price discovery and distribution, some of China’s onshore banks are trying something different and are acting nothing like underwriters.

Baidu-backed video streaming platform iQiyi kicked off bookbuilding for its $2.38bn US listing on Monday and was covered quickly.

Credit Suisse has named Sergio Morita as Ashish Sharma’s replacement to helm the loan syndications desk in Asia Pacific, according to an internal memo seen by GlobalCapital Asia.

The Chinese leadership picks Yi Gang as the next governor of the People’s Bank of China, Chinese bankers are confident about the prospect of the country’s economy, and Panama prepares to sell $500m worth of Panda bonds by the end of the year.

European corporations have had an easier time selling Panda bonds than those from other parts of the world, thanks to Chinese regulators’ acceptance of their accounting standards. But a recent deal with a guarantee structure — a rarity in the budding asset class — appears to threaten that ease of access.

BoCom International’s head of ECM is the latest senior banker to join a growing exodus of talent from banking to Chinese start-ups.

Shanghai-listed MeiHua Holdings Group has launched its debut international loan, seeking $200m through a single bookrunner.