Greater China

Trading in Central China Securities Co remained suspended for a second day as bookbuilding for its HK$2.53bn ($327m) accelerated block trade, launched on July 23, went on longer than expected.

Hong Kong-based banker Justin Kwok has started working CCB International in a senior ECM role, having joined the bank a few week ago, sources tell GlobalCapital Asia.

Beijing Capital Juda priced its first bond, raising Rmb 1.3bn ($209m) from oversubscribed three year deal that saw investors eager to gobble up a dim sum trade.

Two Chinese issuers in the commodities sector – China Oilfield Services (COSL) and China Minmetals Corp – launched bookbuilding for dollar bonds on July 23. But there was little concern about the competition as the borrowers only looking to raise $1bn each and bankers were confident about the amount of liquidity in the market.

Multiple listings of ETFs could become a smart strategy for firms looking to attract a broader investor base for products sold under the renminbi qualified foreign institutional investors (RQFII) scheme. An RQFII ETF that was first listed in London was recently taken to Euronext Paris via Euroclear Bank, and Euroclear reckons the move is paving the way for others to exploit RMB alternatives.

A positive outcome to this year's review by the International Monetary Fund (IMF) of the potential inclusion of the renminbi into its Special Drawing Rights (SDR) facility could give a boost to interest in the currency from sovereigns, supranationals and agencies (SSAs), say market participants. Meanwhile, the IMF review is progressing, with the multilateral busy gathering data on trading flows.

The all-important deadline of July 20 passed without incident, Greece having redeemed its debt to the ECB with the help of a bridging loan. That doesn’t mean the crisis in Greece is resolved – far from it – but it does give the market some breathing space.

Bank of Communications managed to pull off a super-aggressive trade this week, pricing its $2.45bn additional tier one (AT1) offering in line with its larger peers Bank of China (BoC) and Industrial and Commercial Bank of China (ICBC). The key to that impressive feat was taking advantage of an investor base that had been starved of bank capital paper as well as higher yielding products, writes Rev Hui.

CICC in limelight for $1bn — LIG Nex1 gets IPO nod — Pakistan preps for State Life sale — San Miguel brews $739m

CICC has filed its long-awaited IPO with the Hong Kong Stock Exchange, with the Chinese investment bank eyeing $1bn in proceeds. The trade is slated to launch at the end of September via leads ABC International and CICC, but interest is already building.

DBP hunts for funds — Oxley out with S$110m — LK Machinery seeks HK$600m

Xinjiang Goldwind Science & Technology ventured into uncharted territory on July 16 issuing the maiden green bond by a Chinese issuer. While the deal is expected to be the first of many, investors were largely indifferent to the trade’s green credentials.