Hong Kong SAR

State-owned China Power International Development (CPID) is heading to the onshore bond market for Rmb2bn ($312.4m) of funding. The Hong Kong-incorporated borrower wants to attempt its first Panda since 2016, but it needs regulatory approval first.

Former Nasdaq-listed iDreamSky Technology Holdings has filed for an IPO in Hong Kong, two years after it was taken private.

Credit Suisse has hired three senior bankers from rival firms in Hong Kong to beef up its Asia Pacific prime services unit, according to an internal announcement seen by GlobalCapital Asia.

Nomura has hired Bank of America Merrill Lynch banker Anshul Trivedi to lead its Asia ex-Japan equity syndicate team, according to a memo seen by GlobalCapital Asia.

First Pacific Co is using a new $175m bond, as well as a bank loan, to help fund a tender offer, part of a liability management exercise.

The pre-summer IPO season is in full swing as issuers and banks look to lock in deals before investors pack their bags for the holidays.

It really is difficult sometimes to understand how people’s minds work. But as I have plenty of free time in my retirement, I do love to speculate.

China Merchants Bank’s Hong Kong branch managed to lock in a tight spread without sacrificing size on its $500m floating rate note on Wednesday.

Fosun Industrial Co has returned to the offshore market for a $550m three year senior term loan that will refinance debt taken on for an acquisition last year.

Hong Kong-based Liu Chang has left JP Morgan’s equity capital markets syndicate team, according to a source familiar with the matter.

Hong Kong-listed Beijing Enterprises Clean Energy Group (BECE) has filed for a Rmb2.8bn ($439m) issuance programme in China, paving the way for the red chip’s debut in the Panda market. Should the application go through, the issuer will sell the first perpetual bond in the asset class.

Zurich Insurance sold its first bonds in the Australian dollar market this week, as it looks to finance its recent acquisition of Australia and New Zealand Banking Group’s life insurance business.