Greater China

Commodities trader Trafigura has sent banks a preliminary invitation for an upcoming financing, which market participants reckon will replace a $1.185bn one year loan sealed last October.

China made a clear step towards creating a financial super-regulator last week, when it created a new oversight commission within the central bank. The mega-merger of China’s many competing regulators is a good idea – but it is also fraught with risks.

Hong Kong-listed China Resources Land is returning to the Panda market on July 21 after a year-long absence. The company, which is hoping to raise Rmb5bn ($741m), will be the second red chip real estate issuer in two days to price a dual-tranche Panda deal.

Any debt bankers hoping for an early summer lull were left sorely disappointed on Tuesday, as a slew of Chinese issuers ensured a breakneck pace of issuance.

Standard Chartered has beefed up its loan syndications team in Hong Kong, hiring two bankers, according to sources.

Chinese state-owned Shandong Energy Group Co is taking orders for its inaugural international bond, while property developer Gemdale Corp is also in the market for a new debt outing.

Chong Hing Bank raised $360m on Monday from Asia’s first Basel III compliant tier two dollar bond of the year, benefiting from the rarity of the structure in the region’s dollar market.

China’s ENN Energy Holdings grabbed a $600m bond on Monday, as investors ate up the credit given its three year hiatus from the international debt market.

British Columbia has hired Bank of China (BOC) for its second Panda deal, GlobalRMB has learned. Meanwhile, Hungary has chosen BOC and HSBC for a long-awaited Panda debut with a prospectus expected on Friday.

Shares of Inner Mongolia Energy Engineering swung rather wildly on its debut on the Hong Kong Stock Exchange on Tuesday, following the company’s HK$1.2bn ($153.8m) IPO last week.

Great Wall Motors, the largest sports utility vehicle and pick-up manufacturer in China by units sold, has approached the overseas loan market with a $350m fresh money fundraising.

Asian green bonds are front and centre this week. Greenko Energy Holdings took the lead with its dollar bond on Monday, with Singapore’s DBS Group Holdings and Hong Kong’s Castle Peak Power Company rolling out their transactions on Tuesday.