Greater China

The Asian primary dollar bond market had a strong start to the week with four deals hitting investors’ desks on the same day. The activity has boosted hopes for a robust second quarter following a subdued first three months that saw Chinese volumes plummet, writes Narae Kim.

Credit Suisse has named former Macquarie banker Cheun Hon Ho as its new southeast Asia ECM head.

Sunshine Life Insurance Corp has launched a roadshow to test appetite for what would be its debut international bond, while Beijing Automotive Group is mulling a deal of up to Rmb15bn ($2.3bn).

HSBC’s group chief executive Stuart Gulliver told clients at a forum in Hong Kong on Thursday that China deserves patience as it attempts its economic transition, adding that he expects Mainland authorities to keep their word on RMB stability.

The broad liberalisation of access to the China interbank bond market (CIBM) announced in February has been given the thumbs up, but hedge funds keen to have a more direct route into the Chinese market face a complex landscape, with the country’s regulators still treating the industry with suspicion.

China Renaissance has named Andrew MacInnes as CEO of its US arm, as the boutique investment bank steps up its overseas ambitions and grows its equity distribution capabilities stateside.

Fosun Industrial is close to signing a syndicated loan at a smaller size of $500m, more than six months after the trade launched.

Guosen Securities (HK) Financial Holdings Company has received a capital injection of HK$300m ($38.67m) from its parent Guosen Securities, according to an announcement on April 2.

Global Medical Real Estate Investment Trust, owned by Hong Kong-listed ZH International Holdings, is aiming to list on the New York Stock Exchange in a deal that could net $100m.

Nameson Holdings priced its HK$600m ($77m) Hong Kong IPO near the middle of the range on Wednesday, but bankers still said that conditions are still not ideal for equity capital markets.

A $12.7bn jumbo loan to back China National Chemical Corp’s (ChemChina) acquisition of Syngenta has gone into senior syndication in Asia, with the borrower seeking a large minimum commitment.

CK Hutchison, the conglomerate with headquarters in Hong Kong, issued €2bn in the European corporate bond market on Tuesday, diversifying the market’s sources of non-European deal flow.