Greater China

New Hope International has wrapped up syndication of a $100m facility that came with a guarantee from its parent, Chinese agribusiness New Hope Group.

Flat Glass Group Co priced its Hong Kong IPO at the bottom of an indicative range on November 19, raising HK$945m ($122m) as investors gave the solar glass maker a lukewarm response.

China Construction Bank (Asia) has priced a two year dim sum amid a market sentiment that is less than favourable for dim sum issuance. However like other recent deals from state-owned banks, this latest trade was driven more by diplomacy than funding needs.

Chinese water treatment firm Citic Envirotech has printed its first dollar bond, raising $175m from a trade that was designed to take advantage of Asian private banks’ increasing need for yield.

In this round-up, new RMB mini metals contracts coming on HKEx, Singapore Exchange and EBS to launch CNH block futures, Turkey renewed its RMB swap line, and Morgan Stanley said one of its funds will start trading via the Shanghai-Hong Kong Stock Connect link.

The Asia ex-Japan bond market is set for a busy few weeks as issuers decide between pushing out deals now and postponing their fundraisings until 2016. Sovereigns and bank capital trades are part of the pipeline but with Thanksgiving holiday and a potential rate rise looming, timing has become critical, writes Narae Kim.

A group of Chinese city commercial banks are looking to catch the year end window for IPOs, opening books on their Hong Kong listings over the coming weeks. But thorny issues around valuations for China’s state assets mean friends and family style deals will once again rear their head, writes John Loh.

As bankers we have all dealt with difficult clients, but some seem to enjoy taking this to a whole new level.

The China securitization market is proving to be a happy hunting ground for BMW Automotive Finance this year. Five months after a landmark four-tranche transaction, BMW sealed its return this week with a bigger and more aggressively priced Rmb3.5bn ($550m) ABS.

Zhuhai Huafa Group completed Asia’s first offshore renminbi denominated bond in close to a month, raising Rmb1.5bn ($235m) with a three year offering on November 18.

Standard Chartered is continuing to make a raft of changes to its business, dismantling its project finance operations in Hong Kong and seeing some senior departures.

UBS is planning to swap senior members of its China onshore and offshore teams as it looks to further strengthen its mainland business, according to an internal memo seen by GlobalCapital Asia.