Northeast Asia

Investor demand for more new issue premium forced China’s Citic Securities Co to price a smaller-than-expected $300m bond on Monday.

China Vanke Co rode the positive momentum that followed the truce in the China and US trade war, raising $630m after an aggressive tightening in price. But the movements in the US Treasury market, including a curve inversion between three and five year notes, hit the secondary performance of the company’s bond.

Chinese online consumer lender 360 Finance is preparing to launch its New York Stock Exchange IPO on Wednesday, targeting around $100m, according to a source close to the deal.

Legend Holdings Corp, the controlling shareholder of technology company Lenovo Group, is looking to spin off its financial unit through a Hong Kong IPO.

Tencent Music Entertainment Group has begun bookbuilding for its long-awaited $1.23bn IPO in the US, around two months after first gauging investor appetite.

Luzhou City Commercial Bank and Ever Sunshine Lifestyle Services Group kicked off bookbuilding for their respective IPOs as they aim to cross the finish line before the end of the year.

Red chip issuer China Gas Holdings plans to raise up to Rmb1.3bn ($189m) from a new Panda bond this month before its issuance programme expires.

ICBC International Holdings, a wholly-owned Hong Kong subsidiary of Industrial and Commercial Bank of China, is about to close a dual-tranche borrowing of between $100m and $200m.

HSBC has tapped two of its veteran bankers as Guangdong co-chief executives, as part of the bank’s push in the Pearl River Delta (PRD) region.

VTB Capital is encouraging Russian borrowers to consider the dim sum market as a supplementary source of funding because their access to core markets has been restricted since the US imposed sanctions in April. However, the potential scale of the dim sum market is limited.

iDreamSky Technology Holdings has pocketed HK$838m ($107.1m) after pricing its IPO just below the mid-point of guidance, according to a banker close to the deal.

Grand Baoxin Auto Group took $358m from the syndicated loan market after launching its latest deal at $200m in September.