Greater China

Despite a flying start to bookbuilding, the HK$11bn ($1.4bn) IPO of China Railway Signal & Communication Corp (CRSC) in Hong Kong eventually succumbed to the turmoil in China’s stock market, forcing it to price at the bottom of the range on August 1.

Asia's high yield bond market finally saw some overdue activity over the past week, with four deals pricing. But the sector is by no means invincible — eHi Car Services had to pull a deal amid tepid demand. But despite that setback, bankers are confident of printing more deals through the summer, writes Narae Kim.

Yuexiu gets two for Shanghai tower acquisition loan — Healthy demand for Dongfeng Peugeot loan — ONGC Videsh sounds lenders for refi

Standard Chartered has hired a former banker from Royal Bank of Scotland as its new head of Greater China debt capital markets.

A $480m fundraising for notebook maker Inventec Corp has launched into syndication, with one bank co-ordinating. A group of 17 banks is interested in the deal.

Former Morgan Stanley banker Dave Sandor has been hired by Goldman Sachs as an executive director for equity-linked, filling a vacancy that has existed for some time.

I recently paid a visit to the bank I used to work at years ago. Not much has changed, but what I didn’t expect to see was an almost empty office during lunch hours. Where were all these junior bankers who were supposed to be gobbling down sandwiches while frantically bashing on keyboards at their desks?

The International Monetary Fund (IMF) has not announced any delay to its decision on whether to include the renminbi in its Special Drawing Rights (SDR) facility. Is that clear enough for everyone?

A loan that had been in syndication since April from vehicle parts producer Hyva Global has been signed, with a mix of Asian and Western banks and one institutional investor joining. The deal started out at $295m but wound up at a much slimmer $195m after failing to gather steam amid concerns over the industry and the company’s weak sales in slowing China.

Oceanwide Holdings managed to reach the finish line for its $400m bond on Tuesday, the same day another high-yield issuer was forced to shelve its deal due to weak demand. Oceanwide’s triumph was thanks to the existence of outstanding notes that were trading well in secondary, as well as investors’ familiarity with the credit.

The growing Chinese securitization market took another step forward this week with the listing of the country’s first box office asset backed security on the Shenzhen Stock Exchange.

HNA Tourism Group Co has raised Rmb450m ($72m) from its first bond issue, which was driven by investor enquiry. The two year deal offers investors the highest coupon in CNH since the start of 2015.