ICBC

Chinese city commercial bank Bank of Shanghai Co priced a rare bond backed by a standby letter of credit (SBLC) on Wednesday, seeing an over five times covered book but leaving a few basis points on the table.

Chinese issuers BOSC International, a local government financing vehicle from Henan, Lai Fung Holdings and Hilong Holding are in the market with new deals on a busy day for issuance.

ICBC Standard Bank has appointed Gary Simpson, a former HSBC banker, as chief operating officer of global markets, a newly created role.

Power Construction Corporation of China (PowerChina), Bank of Shanghai subsidiary BOSC International Company and financial services firm Guangxi Financial Investment Group Co are testing investor appetite for new bonds.

Investment grade corporate bond market players only had to wait one day for the first new deals of 2018. Renault and BMW both brought new paper to market on Wednesday, selling a total of €2.75bn of bonds with little premium.

Chinese regional lender Bank of Gansu Co has covered the books for its Hong Kong IPO, which could raise HK$6.1bn ($783.9m) at the top of guidance, according to a banker on the deal.

Mizuho Bank is preparing to sell the first ever Panda bond by a Japanese issuer, after picking three local banks to manage the deal.

Three Chinese issuers hit the market on Tuesday with dollar deals, but each saw a very different outcome. One company sealed a successful trade, another locked up a private placement style bond, while the third was forced to pull its transaction.

Three Chinese issuers hit the debt market on Tuesday, launching dollar deals. While the pace of new issuance is beginning to slow down, there appears to be no end in sight for the primary bond market.

China Education Group Holdings has priced its Hong Kong IPO just above the mid-point of guidance to raise HK$3.2bn ($413.1m), according to a banker on the deal.

China Citic Bank sold its first senior unsecured dollar bond on Thursday, executing the four tranche floating-fixed combination deal in a club style fashion.

Industrial and Commercial Bank of China sold a dual-tranche floating rate transaction on Wednesday, getting significant interest from western accounts as it used its London arm as the issuing vehicle.