Greater China

It pains me to say it but there is a tendency among us bankers to take credit for victories and shift the blame for wrongdoing onto anyone else. It is of course a tricky art to perfect, as one of my friends recently discovered the hard way.

China International Capital Corp sealed a highly popular $500m debut bond on Wednesday, ending up eight times covered, despite pricing inside the curve of closest rival Citic Securities.

Tissue paper maker Youyuan International is tapping the loan market for a $120m 3.5 year facility, marking its return after a gap of two years.

Chinese bond issuers have suffered from declining interest from European and US investors, as concerns about the slowdown on the mainland has an impact. But with quasi-sovereign State Grid Corp of China sealing its first euro-dollar trade this week, it has demonstrated that, with the right strategy, issuers can find a way to dispel cynicism. Narae Kim reports.

Zhejiang Geely Holding Group is to start gauging investor interest this week for what would be the auto firm’s first green bond.

BOC Aviation is set to raise at least HK$8.7bn ($1.1bn) from its Hong Kong IPO, as it looks to kick off bookbuilding next Monday with a fixed price.

UBS has appointed Damien Brosnan and Peihao Huang to the newly created positions of co-heads of ECM solutions for Asia, effective from last Friday.

Zhejiang Geely Holding Group is set to hit the road for a dollar-denominated green bond that is expected to launch as early this month. The trade will be the third green issue from a Chinese borrower overseas.

Standard Chartered’s Renminbi Globalisation Index (RGI) fell by 2.7% month-on-month in March to 2,151 from 2,210. The index is also down 1.1% year-on-year, posting the first yearly contraction since it started in 2010.

CDH is in the market to cash out of its stake in Luye Pharma Group via a block trade worth up to HK$729m ($94m).

Chinese tissue paper maker Youyuan International has returned to the loan market after a two year gap and is seeking a $120m 3.5 year facility.

Chinese auto rental company eHi Car Services, which made its debut in the international bond market late last year, has set its sights on a $150m syndicated loan.