Greater China
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In this week's Clawback, columnist Philippe Espinasse writes about how Hong Kong’s ambitious plans to woo international companies to its stock exchange are facing a big setback. -
Guotai Junan International Holdings launched a 364-day dollar bond on Monday, the issuer’s first public offshore debt offering in more than three years.
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China's embattled HNA Group Co returned to the bond market with a $300m deal on Thursday. But the company was forced to stomach a sharp increase in its funding costs.
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Chinese property giant China Vanke Co has priced a 10 year deal around fair value, taking $1bn out of the market. The company made the most of a strong name recognition and some rarity value, making just its third issue in the offshore bond market.
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The Ministry of Commerce (MofCom) completes the first draft of foreign investment law, regulators give BEA Union Investment Management the go-ahead to launch a wholly foreign owned enterprise (WFOE) in Shenzhen, and Renmin University’s vice president claims the renminbi will be fully convertible within five years.
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Mainland firm Harvest Property Holdings is looking to join its peers south of the border, with a plan to float on the main board of the Hong Kong Stock Exchange.
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Red chip issuer Yuexiu Transport Infrastructure is preparing to sell its first Panda bond in the interbank bond market, having filed for a Rmb2bn ($302.7m) issuance programme this week.
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ASM International has pocketed HK$4.1bn ($526.4m) after offloading a chunk of ASM Pacific Technology stock, pricing it toward the top end of guidance.
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Hong Kong-listed Huarong International Financial Holdings is gearing up for a Rmb2bn ($302.7m) Panda bond private placement, which would mark the financial issuer’s first outing in the asset class.
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China YuHua Education Corp raised HK$936.7m ($120.1m) from a quick return to the equity market after listing in February.
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China Eastern Airlines Corp has named banks to lead its first Singapore dollar bond, with a roadshow being held next week.
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Hong Kong’s overnight interbank lending rate spiked dramatically this week, after a horde of retail investors borrowed on margin to place bets on two IPOs.
