Hong Kong SAR

Bank of China Hong Kong has sold its second Panda bond, raising a staggering Rmb9bn ($1.37bn) from a one year note. The transaction was the largest Panda sold in the interbank bond market, and caught the attention of foreign investors, which made 50% of all bids.

Chinese retailer Red Star Macalline Group Corp launched its dollar debut on Thursday, about five months after mandating banks for the deal.

Haitong UniTrust, the leasing arm of Haitong Securities, is eyeing an end-September window to launch its $500m IPO in Hong Kong.

Investors have been receptive to ZhongAn Online Property and Casualty Insurance Co’s $1.5bn IPO in Hong Kong despite the punchy valuations on tow, said bankers.

Beijing Hyundai Motor Group has completed its second securitization in China this year, selling a Rmb3.5bn ($535.3m) two tranche deal on September 12. While the transaction’s timing coincided with rising political tensions between China and South Korea, investors remained undeterred.

CSI Properties and China Logistics Property (CNLP) are in the thick of the dollar debt market this week, with the former gauging interest for a perpetual deal, and the latter boosting its coffers with a tap.

Foreign asset managers will increasingly use RMB raised in China to invest overseas, as the private fund management (PFM) programme takes off, said Alexious Lee, head of capital access, China, at CLSA.

Sisram Medical, a subsidiary of Chinese conglomerate Fosun International, has raised HK$978.6m ($125m) from its spin off in Hong Kong, pricing the IPO at the bottom of guidance.

Sun Hung Kai & Co’s good run in the dollar debt market continued this week as the Hong Kong financial investment firm sealed a $150m tap, once again going beyond the targeted size.

The Belt and Road Initiative (BRI), without a doubt, will find many private sector takers. But despite their desire to get involved, investors are holding their horses as they assess risks, especially political ones, in Belt and Road countries.

Citic CLSA Securities has appointed a new head of fixed income syndicate in Hong Kong, who will work closely with the brokerage's debt capital markets team.

Hong Kong’s Sun Hung Kai & Co returned to the market on Monday morning, looking to add to its $400m 2022s sold at the end of August.