ICBC

GAC-Sofinco Auto Finance, a joint venture between Crédit Agricole Consumer Finance and Guangzhou Automobile Corp, wrapped up a Rmb6bn ($851m) four tranche internationally rated auto ABS deal on Thursday. The trade was priced tightly thanks to the issuer’s good relationship with banks.

Crédit Agricole printed a Rmb1bn ($142m) three year renminbi bond in China on Wednesday. Despite being a senior preferred deal and including write-down and conversion to equity clauses, both new to onshore investors, the Panda still managed to achieve tight pricing and a well-covered book. Rebecca Feng reports.

Yuexiu Transport Infrastructure, a Chinese red-chip company listed in Hong Kong and incorporated in Bermuda, sold its first Panda bond in the interbank market last Friday, raising Rmb1bn ($142m).

XD, a Chinese game developer, has kicked off the roadshow for its Hong Kong IPO, eyeing proceeds of HK$1bn ($128.4m).

Commodities company Mercuria has closed its annual borrowing at a size of $1.2bn after 24 banks joining the deal during general syndication.

China Overseas Land & Investment (Coli) found a conducive market window for its last bond issuance of the year, raising $294m from a 10 year deal on Wednesday.

The Republic of Angola printed a $3bn two tranche trade on Tuesday with no new issue premium, waving off any concerns that investors might be wary of a borrower in a complicated economic situation.

Austria has the green light from Chinese regulators for its inaugural Panda bond issue as it looks to become the second eurozone sovereign to tap the market.

China Aluminum International Engineering Corp (Chalieco) raised $350m from a senior perpetual bond after closing the order book much earlier than usual. Shanghai Electric (Group) Corp made a rare visit to the dollar market.

Alibaba Group Holding has kicked off its up to $13.4bn Hong Kong IPO, set to be the largest listing on the bourse for nearly a decade. Bankers are confident the deal will be a success, but they are navigating challenging times in the city’s stock market, which plunged this week as violence during protests escalated. Jonathan Breen reports.

Investors looked beyond Nanyang Commercial Bank's Hong Kong home to its Chinese parent this week, allowing the borrower to close a $700m Basel III-compliant tier two subordinated deal, despite the protests happening in the city.

This month, Jim O’Higgins is to retire after 15 years at ICBC Standard Bank.