Greater China

StanChart’s north Asia capital markets head bows out — Hsu joins StanChart levfin team — Mizuho loses Thailand, Korea-focused banker

China-based Hebei Construction Group is looking to raise between $200m and $300m through a Hong Kong IPO in the second half of the year, said a banker on the trade.

Zhongyuan Bank’s HK$8.34bn ($1.1bn) IPO in Hong Kong was well covered as of Thursday morning, according to a banker at one of the leads.

Two firms from China’s new economy sector, which are backed by technology companies Alibaba and Tencent, plan to tap equity investors for over $2bn in their Hong Kong IPOs.

Two Chinese banks sold dual tranche floating rate dollar bonds this week, taking advantage of the market’s enthusiasm to raise a combined $1.8bn. But the eagerness for the format appears to be waning.

Property company Jinmao is returning to the Panda market just three months after its debut in the asset class. Sources said the issuer, which is hoping to raise Rmb2.5bn ($367.9m) with a three year note on July 7, is seeking a snap deal to exploit relatively stable onshore yields.

Chinese developer Longfor Properties Co began marketing its first investment grade dollar bond on Thursday morning in Asia.

Formosa Chemical Industries Ningbo Co has mandated a Taiwanese lender to syndicate a $155m-equivalent renminbi loan.

There has been rising demand for short-dated non-deliverable interest rate swaps (NDIRS) in the renminbi market after the People’s Bank of China adjusted the fixing lower and market participants braced themselves for a key resistance level, writes Deirdre Yeung of Total Derivatives.

Qinghai Provincial Investment Group made a quick return to the bond market this week, giving investors an opportunity to top up their exposure five months after making its debut.

A group of nine Chinese companies have received approval from the National Development and Reform Commission (NDRC) to sell international bonds.

Shanghai Pudong Development Bank Co is back in the market with a dual tranche floating rate dollar deal, which it is selling through its Hong Kong branch.