ICBC

A spike in US Treasury yields on Thursday had a knock-on effect on bond spreads in Asia, posing an additional challenge for issuers ready to head out the gates next week.

China Life Insurance Co is planning a return to the offshore bond market for capital after a drop in its core solvency ratio, while Industrial and Commercial Bank of China is seeking shareholders’ blessing for a Basel III additional tier one (AT1) deal.

Energy and commodities trader Mercuria is back in the loan market for its annual fundraising, seeking a $1.1bn multi-tranche borrowing.

Indian electricity utility firm Tata Power has mandated five banks to lead a $245m borrowing, ending a two year hiatus from the offshore loan market.

Shandong Gold Mining has raised HK$4.8bn ($616.8m) after sealing its IPO at the bottom of price guidance, according to a senior banker on the deal.

Boutique investment bank China Renaissance has wrapped up its HK$2.7bn ($345.5m) IPO at the bottom of guidance, with the deal multiple times subscribed.

Ghana Cocoa Board (Cocobod) signed its $1.3bn trade finance facility of Thursday, as the company prepares to start funding purchases for the coming harvest.

China State Shipbuilding Corp (CSSC) jumped into the busy market on Wednesday, grabbing more than $835m from a dollar/euro dual-tranche transaction.

Two state-owned companies from Shenzhen and Sichuan managed to woo investors to their dollar bonds on Tuesday, thanks in part to the strong credentials of their respective provinces.

BMW Automotive Finance (China) Co priced a Rmb4.5bn ($656m) Bavarian Sky China 2018-1 securitization this week, its largest China auto ABS deal to date.

China Renaissance, the boutique investment bank founded by Fan Bao, is bookbuilding for a Hong Kong IPO to raise around HK$3bn ($377m).

Shandong Gold Mining launched a HK$6bn ($767m) Hong Kong IPO on Thursday, seeking funds to pay for the acquisition of an Argentinian mine — its first overseas asset.