Greater China
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Bank of America Merrill Lynch has lost a member of its equity capital markets syndicate team in Hong Kong, according to sources. -
China Zheshang Bank is gauging demand for a $1.5bn-$1.6bn IPO in Hong Kong and plans to launch the trade next week.
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Chinese e-commerce giant Alibaba Group has mandated eight banks to run its $4bn loan, with invitations to be sent out to lenders soon.
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Hutchison China MediTech’s (Chi-Med) $100m IPO on the Nasdaq has been oversubscribed three days into bookbuilding, according to sources close to the transaction.
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Larger trading volumes in offshore renminbi (CNH) as a result of the currency’s erratic behaviour delivered a rise in Standard Chartered Renminbi Globalisation Index in January, helping to offset falls in deposits and dim sum bonds.
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The influx of Chinese M&A into Europe has brought the terrifying task of evaluating the credit risk of clandestine Chinese state-owned enterprises — but the loan structures used so far protect lenders from the unknown.
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Chinese state-owned enterprise Yunnan Water Investment has obtained board approval to issue offshore debt.
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Chinese regulators are set to soon release official guidelines on the new scheme liberalising access to the China Interbank bond market (CIBM), according to Standard Chartered (StanChart). In the meantime, more details of how the scheme will work have come to light.
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Union Medical Healthcare has priced its HK$742.4m ($95.5m) Hong Kong IPO close to the floor of the expected range, as investor sensitivity meant the issuer chose prudence over price.
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Bank of China has filed an application to list its aircraft lessor in Hong Kong in a deal that could raise as much as $2bn.
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Hutchison China MediTech (Chi-Med), the drug-making arm of Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa, has opened books for its $100m IPO on the Nasdaq.
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The reduction in cross-border lending to China and increased capital outflows observed in 2015 might be more tied to a reduction in offshore RMB deposits than capital flight, according to the Bank for International Settlement (BIS).
