Northeast Asia

Bank of China’s Macau branch guaranteed a $600m bond for Bank of China Group Investment (BOCGI) that was issued through a special purpose vehicle — a structure that has fallen out of favour among the big Chinese banks.

Dalian Wanda Commercial Management Group Co, a subsidiary of Chinese conglomerate Dalian Wanda Group, raised a larger-than-expected $400m bond at a premium, amid media spotlight onshore on a member of the family that owns the firm.

First Abu Dhabi Bank has hired Eric Chan from Westpac to head its corporate finance business for North Asia.

HSBC has hired Eddie Wong as a director of loan syndications for Asia Pacific, according to a source close to the move.

Two local government financing vehicles (LGFVs) from the Zhejiang province, Shaoxing Shangyu State-owned Capital Investment and Operation Co and Hangzhou Linjiang Investment Development Co, priced their inaugural dollar bonds this week.

Chinese game developer XD is set to launch the roadshow for its Hong Kong IPO, having filed post-listing hearing documents with the Hong Kong Stock Exchange (HKEX).

Alphamab Oncology, a Chinese biopharmaceutical firm, has launched a roadshow for an up to HK$1.83bn ($233.8m) listing, according to a source close to the deal.

The People’s Bank of China (PBoC) has published a set of long-overdue guidelines to select the country’s domestic systemically important banks (D-Sibs). Banks selected will probably face more stringent capital requirements as Chinese regulators finally launch tougher supervision for the country’s biggest banks.

Macau casino operator Melco Resorts & Entertainment, Philippine power company AC Energy and a local government financing vehicle from Jiangxi were among the crop of issuers to hit the bond market on Tuesday.

Pharmaceutical research and development platform Pharmaron Beijing Co has bagged HK$4.6bn ($588m) after sealing its Hong Kong public offering at the top of the price guidance.

China deepened its dollar debt curve on Tuesday with a $6bn jumbo bond. With its biggest dollar deal yet, the sovereign has set a new benchmark for issuers from the country.

Hong Kong hosted Alibaba Group Holding’s jumbo IPO in tough political times this month, yet the deal received overwhelming support in primary and the shares soaring in the aftermarket. While this success gave the city’s stock market a much-needed boost, other issuers would be mistaken in thinking that such liquidity is also available to them.