Greater China
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Panda bonds are poised to make a rare appearance on the Shenzhen Stock Exchange, with red chip firm Shenzhen International Holdings announcing on Wednesday that its Rmb5bn ($727m) programme has been approved by the China Securities Regulatory Commission. -
The Hong Kong government stretched its Islamic finance benchmark and ambitions on Tuesday, securing a $1bn 10 year deal with the first dollar sovereign sukuk of the year.
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Citic snatched $1.25bn from an aggressively priced dual-tranche transaction on Tuesday, its second bond outing since a restructuring that saw it gain investment grade status.
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Minsheng Financial Leasing has returned to the debt market for a $200m offshore loan that is led by three mandated lead arrangers and bookrunners.
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China Lodging Group has enlisted a single bank to help it arrange a $500m financing for the acquisition of hotels in the Mainland.
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China YuHua Education Corp has scooped up HK$1.5bn ($198.1m) after seeing a global turnout of investors for its IPO, according to a banker close to the deal.
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The Asia debt market saw a fresh rush of dollar deals on Wednesday, with property names China Jinmao Holdings Group and Xinhu Zhongbao, as well as Singapore’s United Overseas Bank launching new deals.
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Kingboard Laminates Holdings is looking to refinance two loans with a single HK$6bn ($773m) facility, and is narrowing the all-in pricing by about 80bp.
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HSBC's Asia profit before tax from global banking and markets slipped 33% to $654m in the fourth quarter of last year from $972m in Q4 2015, mirroring a fall in income.
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HSBC outlined in its annual results announcement on Tuesday some of the difficulties it is facing in the Chinese market, but also said it was raising its revenue targets for the RMB business in 2017.
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Chinese solar power company United Photovoltaics Group grabbed investors on Monday for a $100m tap of its debut notes, managing to hit its approved $350m fundraising cap.
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China Securities Regulatory Commission has given the nod to Bank of Communications Co to spin off and list its investment banking arm in Hong Kong, according to a filing with the city’s exchange.
