Hong Kong SAR

Market participants are preparing for a July 1 launch of the Bond Connect, with details slowly emerging on the scheme’s features. Meanwhile, banks are also expecting a June 25 announcement on which institutions will act as Bond Connect market makers, GlobalRMB has learned.

Property developer Nan Fung International Holdings became the third Hong Kong issuer to sell a fixed-for-life perpetual in just a little over a week. But unlike the earlier transactions, private banks rather than fund managers dominated its deal.

China’s Putian Communication Group is vying for approval to list in Hong Kong, according to a draft prospectus filed with the city’s exchange on Monday.

Private equity firm CDH has sold off a block of shares in Chinese meat processing company WH Group, netting HK$5.79bn ($744.9m) on the back of strong long-only demand.

The Asian market has shrugged off North Korea’s missile test over the weekend, with Nan Fung International Holdings and Metallurgical Corporation of China launching new deals on Monday morning.

Nanyang Commercial Bank is seeking a dollar-denominated Basel III compliant additional tier one deal.

Nan Hai Corp grabbed $500m on Thursday with the sale of a three non call 1.5 year bond, pushed to an investment grade rating thanks to a standby letter of credit from China Citic Bank Corp’s Shenzhen branch. Meanwhile, Sinochem Hong Kong (Group) Company sealed $300m from a club-like transaction.

China Mengniu Dairy has sealed a $194.8m exchangeable bond following a strong response from investors during wall-crossing, according to a source close to the deal.

Bankers are a gossipy bunch. Whether it is a stock tip or a juicy titbit about a rival banker, we love to wallow in all the information.

China Feihe filed a listing application in Hong Kong on Wednesday, four years after it was taken private from the New York Stock Exchange.

China Citic Bank International is coming to the Panda bond market for the first time. The Hong Kong-based lender is hoping to raise Rmb3bn ($437m) with a three year bond, which will be the first Panda issued by a financial institution this year, according to GlobalRMB data.

ANZ has tapped one of its own as the new debt capital markets head for south and southeast Asia, effective immediately.