CITIC Securities

A handful of Indian listings that had been expected by the end of March have been pushed back after a traumatic week for domestic and global markets.

SAIC-GMAC Automotive Finance and Genius Auto Finance printed auto loan ABS deals on Monday and Tuesday. Both were sealed near the tight end of their price guidance ranges.

BMW Finance, a wholly owned special purpose vehicle of BMW, brought a Rmb3.5bn ($502m) dual tranche private placement Panda bond on Tuesday. Both tranches received plenty of demand from domestic investors, the result of flush liquidity onshore.

SAIC-GMAC will sell a Rmb3bn ($430m) auto loan deal next week, marking its first securitization this year.

Standard Chartered-backed China Bohai Bank is planning a listing in Hong Kong, having filed a draft prospectus on Wednesday.

BMW Automotive Finance’s Rmb8bn ($1.14bn) dual-tranche return to the Chinese auto ABS market this week was a success. The tight pricing is expected to allow other issuers to also lower their coupons, said bankers on the deal.

BMW Automotive Finance is readying a Rmb8bn ($1.15bn) dual-tranche auto loan ABS transaction. The deal, to be sold on February 20, will be the first auto ABS outing in the Chinese market since the Lunar New Year.

Beijing Roborock Technology, a manufacturer of robotic vacuum cleaners, has sealed its Star board IPO at a hefty 58.76 times earnings ratio — the highest IPO price on record, not just on Star but also in the entire Chinese A-share market.

Toyota Motor Finance (China), a Beijing-based wholly-owned subsidiary of Toyota Motor Corp, returned to the Mainland's auto loan ABS market on Tuesday after a two year break. The Rmb4.5bn ($648m) deal was tightly priced.

Smoore International Holdings, a manufacturer of vaping technology, is lining up a Hong Kong IPO of more than $500m in the first quarter of 2020, according to a source familiar with the matter.

Blackstone-backed Mindspace Business Parks Real Estate Investment Trust (Reit) is preparing an IPO of new and existing stock, set to be just the second listing from the asset class in India.

Environmental protection services provider Shenzhen Leoking Environmental Group has set the ball rolling for a Hong Kong listing, having filed draft documents with the bourse.