Greater China

Cathay United picks corporate banking head — Raciti set to run ANZ Korea — Ramachandran confirmed for Westpac CIB — Standard Chartered rings the changes

Yunnan Provincial Energy Investment Group Co will meet investors in Singapore and Hong Kong for its first bond of the year. The local government financing vehicle (LFGV) last priced a dual-trancher in December.

Industrial and Commercial Bank of China closed a $1.5bn three tranche deal through its New York branch on Wednesday, finally closing the 10 year bond sale it hoped to do last year.

Chinese issuers have seen bond prices ebb and flow in recent weeks, as the market prepared for and then reacted to the Chinese sovereign’s $2bn issuance last week. The deal caused a massive price tightening across Asia, but the dive in credit spreads proved short-lived. Morgan Davis and Addison Gong report.

The dim sum market’s recent issuance run is set to continue after Hitachi Capital (UK) priced a three year deal on November 2 – less than two months after the issuer sold a Formosa bond.

State-owned China Minmetals Corporation on Wednesday rolled out a dollar-denominated perpetual bond, raising $1bn from the deal. The company was able to price at a tight level, especially when its low step-up is taken into account.

A trio of Chinese firms begun pursuing IPOs in the US this week that could raise more than $1bn between them.

Busy seasons get the best of all of us. The sleep deprivation, the late nights of mixing caffeine and booze, and the camaraderie we bankers feel working to exhaustion as part of a team is something I dearly miss.

China has not done enough to ease the concerns of international bond investors about onshore market access and risk — a failure which is set to torpedo the chances of Chinese bonds of entering Bloomberg-Barclays Global Aggregate Index this year, a Goldman Sachs economist has said.

Property giant China Vanke Co and HNA Group Co came to the market on Thursday with dollar bonds, taking vastly different approaches. Vanke opted for a tenor of 10 years, but HNA kept it ultra-short.

China Literature has priced its listing at the top of guidance, raising HK$8.3bn ($1.06bn) after closing the books hundreds of times oversubscribed.

BNP Paribas is shaking up its equity-linked unit in Asia with the transfer of a senior banker to Singapore and a new hire, sources close to the matter said.