Greater China

Geely Automobile Holdings opted for price over size with its new bond, landing aggressively at the middle of the final guidance range. The tactic meant the private company funded at or even inside the levels of some similarly or higher rated state-owned enterprises (SOE).

Peking University Founder Group Company and Bank of Communications Financial Leasing Co used keepwell deeds for their dollar bond sales on Thursday, paying a bit of premium for the structure.

Ford Automotive Finance (China) started the year in China’s asset-backed securities market by selling a Rmb4bn (Rmb618.3m) deal on Thursday. The deal was open to foreign investors, but onshore demand formed the core support for Ford’s sale, sources on the deal told GlobalRMB.

Chinese issuers Jinjiang International Holding, China South City Holding, Guangxi Communications Investment Group Corp and Tianjin Real Estate Group Co tapped the market for euro and dollar bonds on a busy Thursday.

China’s FX watchdog tells corporates to prepare for more volatility in the RMB exchange rate, the chief of China Banking Regulatory Commission (CBRC) criticises illegal activities in the banking sector, and a domestic Chinese credit rating agency moves US sovereign rating as a result of the recent tax cut.

Shanghai Pharmaceuticals Holding Co raised HK$3.1bn ($396.6m) through an H-share placement on Thursday, its biggest follow-on offering yet.

Hong Kong-listed Sinopec Oilfield Service Corp has hired CICC, Citic CLSA Securities, Deutsche Bank and Guotai Junan to help raise up to HK$6.3bn ($805.7m) in new equity.

Germany's domestic central bank said this week that it would start buying renminbi assets. Andreas Dombret, a member of the board at the Bundesbank, indicated to GlobalRMB that the central bank — like others in the developed markets — would follow the European Central Bank’s small initial allocation to the currency.

Crédit Ag’s Sodhi takes global role – Daiwa equity-linked banker exits – Deutsche builds up loans team – Nomura hires DCM banker – Mizuho names CEO – MUFG appoints Philippines head – Russell-Davison joins Amana Bank

Mitsubishi UFJ Financial Group (MUFG) and Mizuho Bank opened the Panda bond market for Japanese issuers on January 12, with both crossing the finish line on the same day.

Country Garden Holdings wowed the market this week with a HK$23.5bn ($3bn) print in both the equity and equity-linked formats, marking the largest convertible offering from a Chinese property developer.

Malaysia’s sovereign wealth fund Khazanah Nasional has sold a $320.8m exchangeable sukuk with Hong Kong-listed Citic Securities as the underlying stock, taking advantage of a rally in the broker’s shares.