Greater China

There is little that can affect a veteran bond banker more than experiencing the joy of a debut issuer. Whether they’re happy with the funding costs, impressed by the deal size, or just basking in surprise that no-one took a closer look at their accounts, new issuers often bring a child-like innocence to the debt markets. Sometimes, however, they go too far.

China’s Haier Group Corp launched its inaugural perpetual dollar bond transaction on Thursday morning.

Yunnan Water HK Co has made a swift return to the overseas loan market with a $150m three year deal.

Africa’s finance ministers are turning their attention to private sector investment and trying to move beyond bilateral loans from China.

CSPC Pharmaceutical Group opened books for HK$1.98bn ($253.6m) primary share placement on Thursday morning, according to a term sheet seen by GlobalCapital Asia.

Bank of Zhengzhou Co priced its first offshore additional tier one (AT1) bond this week. But although the pricing of the deal appeared to make sense, the transaction drew attention for a number of last-minute changes in the syndicate group, including at the global co-ordinator level.

Victory City Co has hit the syndicated loan market for a HK$2.6bn ($333m) fundraising with five bookrunners at the helm.

Shareholders in Russia’s United Co Rusal raised HK$2.5bn ($320.3m) through an overnight bookbuild, following a rally in the stock as its parent EN+ Group is seeking a $1.5bn IPO.

Frequent issuer Tewoo Group is readying a comeback to the offshore bond market. It has mandated firms to arrange a roadshow at the end of the week.

BOC Aviation and BMW set out to sell offshore renminbi bonds on Wednesday, marking a return to the market for both issuers.

China Singyes Solar Technologies Holdings started marketing a 364-day dollar bond on Wednesday while Singapore-listed water and wastewater treatment company Citic Envirotech took bids for a new senior perpetual in Singapore dollars.

Like most foreign banks in the Chinese securitization market, Standard Chartered has focused on doing business with foreign originators. But now it wants to compete more directly with local underwriters by entering the growing asset-backed notes (ABN) market, Wesley Yang, the bank’s head of financial markets for China, told GlobalRMB.