Greater China

Supply from China’s Qingdao city is continuing strong, with Qingdao Conson Development (Group) Co becoming the latest company to head to the international bond market.

India’s Rural Electrification Corp is one of the few non-Chinese issuers laying the groundwork for a new dollar bond before the end of the year.

China’s Hebei Construction Group has kicked off a one week roadshow to solicit investor interest for its HK$2.32bn ($297.2m) IPO, as a group of other Chinese firms also target Hong Kong listings.

China Education Group Holdings has opened books for its up to HK$3.5bn ($450m) IPO in Hong Kong, with high-profile investors such as GIC and International Finance Corp taking up cornerstone positions.

China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.

There was little excitement among investors for Shandong International Trust’s Hong Kong IPO, with the HK$2.95bn ($377.5m) deal priced near the bottom of guidance, according to a banker close to the listing.

China wants to see more French banks underwriting bonds in its interbank bond market, the deputy governor of the People’s Bank of China says financial risk prevention is a key consideration for the country’s FX policy, and FTSE Russell reviews its China-related equity indices.

A handful of Chinese issuers are set to go on roadshows next week to gauge investor interest for their offshore bonds.

Gansu Provincial Highway Aviation Tourism Investment Group Co, a Chinese local government financing vehicle (LGFV), opted to hit the euro market to diversity into a different investor base, despite having to pay a decent premium for its debut status in the currency and a weak credit rating.

The Philippines postpones its Panda bond deal as it awaits approval from China’s central bank, Hong Kong Exchanges and Clearing (HKEX) opens its first office in Singapore, and the renminbi falls to seventh place in the league table of the world’s most used payments currency in October.

BMW Automotive Finance (China) Co made it three and done in the ABS market this week, selling a Rmb4bn ($605.4m) transaction which had a very similar structure to its last offer in the market.

Hong Kong-listed China Tian Lun Gas Holdings has signed its HK$1.25bn ($160m) five year borrowing with a group of nine lenders, said bankers close to the deal.