Chen Zhiwu, a member on the international advisory board of the China Securities Regulatory Commission, says diversified ownership could increase corruption.
A $300m exchangeable bond into Philippines property developer Ayala Land provides cheap funds for the parent and welcome diversification for investors.
China Citic Bank sells Asia’s first Additional Tier 1 bond, while Chalco raises its second perpetual note and State Bank of India offers a dual-tranche deal.