Hong Kong SAR

Chinese issuers are returning to the international bond market after a one week national holiday, with TUS Holdings and Zhuzhou City Construction Development Group heading out with their deals.

China Resources Pharmaceutical Group will raise as much as HK$15.6bn ($2.0bn) via a Hong Kong IPO after firming up the price range.

China’s Cofco Meat has begun pre-marketing a potential $300m Hong Kong IPO and is set to open books within two weeks, according to bankers close to the deal.

Hong Kong-listed ITC Properties Group became the only international debt issuer from Greater China this week, selling its notes during the country’s week-long national holiday.

Investors are looking past China Industrial Securities International Financial Group’s status as a Growth Enterprise Market listing, with books building strongly for the HK$1.39bn ($179m) Hong Kong IPO.

Details about a $350m-$400m financing for private equity firm Permira’s acquisition of corporate services provider Tricor Group have emerged.

Lenders have put together a financing package of $550m to back MBK Partners and TPG’s joint acquisition of Wharf T&T from Wharf Holdings.

Hong Kong has climbed to the top of the charts again for IPO volumes globally, but it is a victory that rings hollow. The city got there mostly thanks to the assistance of friends and family in the Mainland, as Chinese investors helped push Chinese listings across the line. It is time for the market to move on.

Shandong International Trust Co has submitted an IPO application to the Hong Kong Stock Exchange for an expected $300m offering.

The speed at which Chinese financial firms have made a significant dent in the investment banking profits of bulge bracket banks has even surprised Clawback.

China Merchants Securities Co raised HK$10.7bn ($1.4bn) in its Hong Kong IPO, pricing the shares below the middle of expectations as bankers on the deal voiced differing opinions on its execution.

Philippines' International Container Terminal Services (ICTSI) and Hong Kong’s ITC Properties Group are readying their respective dollar-denominated bonds, with both companies on the road to meet with investors this week.