Greater China

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.

China Construction Bank has appointed respected senior banker Tian Guoli as chairman and executive director, effective Monday, the lender has said in a Hong Kong stock exchange filing.

Chinese issuers and investors are likely to be largely absent from the dollar bond market for the next few weeks, as the country prepares for a crucial meeting of Communist Party officials. The slowdown will be a good chance for issuers from elsewhere in the region to tap the market — and demonstrate whether Asia’s bond market can remain standing without Chinese liquidity.

Crystal International Group is sounding out investors for its $600m-$800m Hong Kong IPO and could launch the offering as soon as next week.

China Power Development International is planning a rights issue to raise at least HK$2bn ($256.3m), helping the company fund acquisitions of various clean energy project companies.

CICC has lost one of its equity capital markets bankers in Hong Kong, according to sources close to the move.

Credit Suisse expanded the responsibilities of two veteran bankers, naming one as the chairman of its Hong Kong operation and another as chief executive for Greater China.

Asian investors have piled into Qudian’s IPO on the New York Stock Exchange, with the $825m fundraising heavily oversubscribed even before it begins roadshows in the US, said bankers.

Bank of Zhengzhou Co started taking bids for its first offshore additional tier one (AT1) bond on Tuesday, after picking five Chinese banks as global co-ordinators. Only two foreign names made it onto the bookrunner list despite taking the lead in almost all previous Chinese AT1s.

Yanggu Xiangguang Copper has rolled out a $100m syndicated loan with one lender leading the deal.

ANZ has promoted one of its own to head up its debt capital markets group in Asia, while adding a banker from a Chinese rival to lead the north Asia team.

Rise Education, a Bain Capital-backed language trainer, has launched a Nasdaq IPO that could be worth $154m. The deal comes hot on the heels of RYB Education’s scorching success in the aftermarket.