Hong Kong SAR

Semiconductor Manufacturing International Corporation (SMIC), a red-chip issuer, sealed a three year Rmb1.5bn Panda bond at the end of last week.

KKR has hired former Goldman Sachs executive Kate Richdale as its head of strategy and business development in Asia Pacific, a new job.

New economy-focused logistics company ESR is looking for the greenlight to list in Hong Kong, having filed a draft IPO prospectus with the city’s stock exchange.

Chow Tai Fook has launched a HK$6bn ($764m) loan into general syndication after attracting seven banks at the senior level.

Chinese home appliance company Midea Group is seeking banks for a $650m loan to refinance its acquisition of Toshiba’s home appliance business from 2016.

In this round-up, the China Banking and Insurance Regulatory Commission (CBIRC) put pressure on banks to provide more private sector financing, the US trade representative said he was not yet satisfied with China’s trade promises and the Hong Kong Stock Exchange (HKEX) planned to increase cross-border capital market deals.

Hong Kong’s stock exchange operator is planning to attract more companies from the Asia Pacific region to list in Hong Kong, as well boosting its Stock Connect schemes with China. The moves should help cement its position as a global fundraising hub, according to a strategic plan published Thursday.

Haitong International Securities has boosted an offshore borrowing to HK$16bn ($2bn) after receiving strong demand during the syndication.

In this round-up, China’s benchmark CSI300 index saw its biggest daily rise in three years after trade negotiations and deleveraging boosted investor sentiment, service imports and exports rose in 2018 and a Bloomberg survey indicated Hong Kong and Singapore investors are optimistic on Chinese onshore bonds.

Chemicals company China Risun Group has kicked off the deal roadshow for its Hong Kong IPO, eyeing proceeds of up to HK$1.9bn ($243.1m).

Futu Holdings, theparent of Hong Kong-based Futu Securities International, has hit the road with an up to $130.8m Nasdaq IPO. The firm has cut the size of its float amid shaky markets, but the deal is still being used as a yardstick by its larger competitor Tiger Brokers, which is snapping at Futu’s heels with its own US listing. Jonathan Breen reports.

American International Group has raised HK$3.79bn ($482.3m) from the sale of its remaining stake in People’s Insurance Company Group of China (PICC), according to a term sheet seen by GlobalCapital Asia.