Greater China

A pair of red chip companies created their respective benchmarks in the Panda bond market this week, raising a combined Rmb5bn ($749m).

Fixed income investors had plenty digest on Thursday with a total of seven Chinese issuers vying for attention. The majority are eyeing dollars but two names are venturing into offshore renminbi.

The International Swaps and Derivatives Association has published a document to help market participants navigate the challenges of trading with counterparties in China.

Junson Development International launched a block on Wednesday evening to offload some of its stake in Longfor Properties Co for a potential HK$1.8bn ($232.1m).

China Minsheng Hong Kong International Leasing’s $200m new money loan, which is due to close by the middle of this month, has obtained commitments from three banks on top of the leads.

China First Capital Group is planning to raise as much as HK$796.2m ($102.7m) from a placement, according to a filing on the Hong Kong Stock Exchange.

The quota system under the RMB qualified foreign institutional investor (RQFII) scheme has undergone a total revamp, the Chinese regulators announced on September 5. While the rules represent a further harmonisation of RQFII and QFII schemes, market participants still see obstacles to Chinese assets entering global indices.

China South City Holdings (CSC) raked in $200m from its Tuesday bond outing in what was a busy day of issuance in Asia’s primary debt market. The competition took a toll on the deal, as demand for the high yield property name was lacklustre.

Drug company Jacobson Pharma Corp has fired up its Hong Kong listing, which could raise up to HK$753m ($97.1m).

Inner Mongolia Energy Engineering Co is planning to float in Hong Kong, filing a draft prospectus with the city’s stock exchange on Monday.

GF Securities has finally settled on raising HK$8bn ($1bn) from its latest syndicated loan, doubling the size of the fundraising due to robust demand.

Clawback turns his focus to cornerstones. Once a useful tool for creating demand, the process has morphed into a kind of insurance policy for IPOs, writes Philippe Espinasse.