China International Capital Corp
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after 15 years away. The bond is expected to encourage Chinese issuers from across the credit spectrum to tap the euro market, writes Addison Gong.
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Guangzhou Metro Group Co raised $200m from a popular return to the dollar bond market on Wednesday, while two of its Chinese local government financing vehicle (LGFV) peers made their offshore debuts.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after a 15 year layoff. Bankers think the deal will encourage Chinese issuers from across the credit spectrum to come to the euro market.
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SAIC-GMAC and Beijing Hyundai Auto Finance are both planning their returns to the auto loan ABS market next week.
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State-owned China Petrochemical Corp (Sinopec) raised $2bn from three dollar bonds on Monday, making a rapid comeback to the debt market.
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The People’s Republic of China has caused a stir among DCM bankers in Asia and Europe with plans to return to the euro bond market for the first time since 2004. While expectations on opposite sides of the world are starkly different, what is clear is that the sovereign’s deal will be less about the pricing itself and more about making a statement. Addison Gong and Burhan Khadbai report.
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SinoMab BioScience, a biopharmaceutical firm, has started taking orders for its up to HK$1.7bn ($223m) Hong Kong IPO.
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Chinese biopharmaceutical firm I-Mab has set the ball rolling for a potential $100m Nasdaq IPO, having filed a prospectus with the US regulator on Tuesday.
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ESR Cayman has raised HK$12.6bn ($1.6bn) from its Hong Kong IPO after pricing the deal at the mid-point of guidance and exercising the greenshoe in full, according to a source familiar with the matter.
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Small appliance maker JS Global Lifestyle Co has shelved its potential HK$3.62bn ($462.2m) Hong Kong listing after a week of bookbuilding.
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NetEase-backed Chinese education platform Youdao fell by more than 25% on its debut on the New York Stock Exchange last Friday, after pricing its listing and concurrent private placement in the top half of guidance.