Northeast Asia

An unexpected change to China’s education policies that threatens to upend the business model of private schools has put a question mark over some of their Hong Kong IPOs.

Trump, Brexit, giant sinkholes in Japan – there’s plenty happening in the world to make this year a tough one for anyone, including bankers. Clients, for their part, are taking the opportunity to squeeze every penny out of the banks that come knocking. But bankers are finding ways to make the most of a bad situation.

Fosun International successfully priced a tap of its existing 2023s on Wednesday, paying a premium to the outstanding deal in line with new market conditions.

Unrated CEFC China Energy Company and China Energy Reserve and Chemicals Group are wooing investors for their respective dollar-denominated notes, with the former making its debut and the latter returning for a second time this year.

Deutsche Bank’s head of equity-linked origination for Asia is transitioning to a new role within the firm, according to sources close to the matter.

It has been the year where Chinese banks went from challenger to champion in Asian investment banking. Growing almost as fast have been the complaints from international rivals. Bankers at global firms may not like the methods but Chinese banks are liquid and they are here to stay: it’s time to adapt.

Hong Kong Broadband Network has wrapped up its latest syndicated loan, with 22 participants joining the four mandated lead arrangers and bookrunners.

The ability to tap into a liquid CNH swap market is one of most important considerations for international companies with operations in China such as IKEA, according to a joint report from the Hong Kong Monetary Authority and InvestHK.

The Dubai Gold and Commodities Exchange has signed up the Industrial and Commercial Bank of China as a clearing and settlement bank, which it hopes will ease its introduction of Shanghai gold futures.

China Aluminum International Engineering Corp (Chalieco) and Ping An Real Estate are conducting roadshows this week to test investor interest for new dollar offerings.

China’s Yancheng Oriental Investment & Development Group Co priced its maiden dollar-denominated offering on Tuesday off strong anchor orders post roadshow.

China Huarong Asset Management went three for three on Tuesday, raising $3bn over three tranches in its third deal of the year. But given the timing of its transaction, the bad debt manager was forced to pay a juicy premium as markets remain volatile after the US election.