Greater China

Latin American development bank Corporación Andina de Fomento (CAF) is gearing up for its debut Panda bond before the end of 2017, which would make it the first in the format from South America. But the deal will only go ahead if the People’s Bank of China fulfills its promise of making the issuance process easier for foreign borrowers, the issuer told GlobalRMB.

China Huarong Asset Management Co is gearing up a return to the offshore bond market for the third time this year. The mandate came right as China completed its first international bond in over a decade achieving a oversubscription of over 10 times.

Weibo Corp delighted investors on Thursday with an $800m print in the equity-linked market, the largest convertible bond by a debut US-listed Chinese issuer.

The return of Taiwanese bank liquidity to the Hong Kong and China dollar loan market is proving a boon for borrowers seeking funds for riskier deal structures. Aviation leasing companies looking for aircraft pre-delivery funding have been emboldened in particular. CMIG Aviation is the latest of that bunch to dip its toes into the offshore market, writes Shruti Chaturvedi.

Hutchison China MediTech pocketed $300m this week after executing a follow-on offering of its Nasdaq-listed American Depository Shares, increasing the deal size as it went.

Deutsche Bank has hired a senior executive from a rival to lead its technology, media, and telecom investment banking efforts in Asia Pacific.

The People’s Republic of China opened books on Thursday for its highly anticipated $2bn bond, its first issuance in the offshore dollar market in more than a decade.

Hainan Airlines Holding Co sold another short dated bond on Thursday as the company deals with the consequences of the Chinese regulator’s offshore sale approval process.

China Grand Automotive Services Co redeemed itself in the offshore bond market on Tuesday, grabbing $400m from a much smoother deal than its December debut.

China Literature’s IPO in Hong Kong, set to raise up to HK$8.3bn ($1.1bn), has been hotly received by investors. Books were well oversubscribed with no price sensitivity at the range given, said a banker at one of the leads.

Tus-Sound Environmental Resources Co, a waste recycling company from China, is eyeing a $300m maximum size three year bond, which will be its debut in the offshore market.

Bank of China’s aircraft leasing arm, BOC Aviation, priced a $200m tap of its outstanding 10 year bonds on Tuesday through where bonds were quoted in secondary markets.