Bank of Communications

HNA Group has sealed its return to the offshore debt market as yield-starved investors nudged the unrated issuer to open a new three year trade. While the order book is not big compared with other recently deals, the issuer was still able price tightly.

Everbright Securities braved the summer slowdown this week to seal Hong Kong’s fourth $1bn-plus IPO of 2016. Investors turned up for the deal, but to secure its success Everbright followed its peers in placing a large chunk of the float with cornerstone investors. Although eye-catching, the move did not dampen demand, with orders covering the book throughout its pricing range. Jonathan Breen and John Loh report.

China Construction Bank’s Singapore branch is set to price the first offshore renminbi (CNH) bond in over a month, after opening books for a two year trade.

Bank of Communications Hong Kong branch made an opportunistic move this week to complete its second dollar bond outing of the year. Its floating rate note attracted a multiple times covered book, allowing it to increase the size of the deal while pushing down funding costs.

Greenko Investment Company is building books for what will be India’s first dollar-denominated green bond by a corporate issuer. On the same day, BoCom HK has returned with a three year dollar floater.

China’s Everbright Securities Co has covered its potential HK$9.0bn ($1.2bn) IPO after the second day of bookbuilding, according to source close to the deal.

China’s fifth largest lender Bank of Communications Co has mandated leads for the Hong Kong listing of its investment banking arm BoCom International, which is likely to raise $300m, according to sources familiar with the matter.

CDB Capital generated close to $4bn in demand for its debut bond on Tuesday, raising $500m. Despite some bankers having said the trade had a weaker structure than its comparable, robust demand from onshore accounts allowed the issuer to price through fair value.

CDB Capital, a wholly-owned subsidiary of China Development Bank Corp, is looking to raise as much as $500m from a new deal while unrated China Minsheng Investment Corp has returned for a three year bond, with both relying on keepwell structures.

CDB Capital, a wholly-owned subsidiary of China Development Bank Corp, has mandated banks to arrange a roadshow from Friday for a Reg S only dollar trade.

Bank of Communications, China’s fifth biggest bank, is mulling an IPO of its investment banking arm in Hong Kong, issuing a request for proposals for a possible $300m listing, sources said.

Shandong International Trust Corp, which is planning a $300m Hong Kong listing, is set to ask for approval for the deal in September, according to a source familiar with matter.