The term sheet indicated a USD150 million note with a maturity of five years for Modern Land offered to the bond market.
China
NQ Mobile set to defend its tarnished image due to Muddy Waters report
According to NQ Mobile co-CEO Omar Khan, "All allegations are false." NQ Mobile Inc's eight founding anniversary had little to celebrate last October 25, as the day before the firm was accused of inflating revenues.
Deals of the day
The following bids, mergers, acquisitions and disposals were reported on Thursday. The following bids, mergers, acquisitions and disposals were reported on Thursday.
"China's Craigslist" 58.com debuts on NYSE
Chinese online classifieds marketplace 58.com would be selling American Depository Shares (ADS) at USD17 apiece starting today on the New York Stock Exchange.
Solar industry posted gains after years in the dark
The solar industry has gained ground in stock exchanges for two consecutive years, outpacing tech companies.
Latest News
Deutsche Bank China was granted an interbank bond settlement license. An interbank bond settlement agent license was obtained by Deutsche Bank China from the People's Bank of China.
Beijing-based wind farm operator China Longyuan Power Group Corp won a bid to jointly develop wind farms with local companies in South Africa.
Private equity firms had been seen selling its ownership stakes in small and medium companies in China to gain back equity.
CVC Capital Partners would be acquiring a 69% ownership stake in Chinese restaurant chain South Beauty Investment Co Ltd for USD300 million, sources said.
An anonymous People's Bank of China (PBOC) official had met with local money dealers in the bank's efforts to stave off investor worry about rising short-term rates.
A stockholder of NQ Mobile Inc filed a case against the Chinese firm for incurring losses after a research report said NQ had inflated its revenues.
General Motors Co said there were no problems with its partnership with Shanghai Automotive Industry Corp.
After accepting Yue Xiu Group's takeover bid, shares of Chong Hing Bank dropped the most in five weeks.
Despite saying the deal is finalized, a Dongfeng executive said it may take a bit more time before its completion.
