Agricultural Bank of China

The overwhelming supply of international bonds from Asia continued on Tuesday, as issuers dashed to raise dollars, and in one case, sterling. But not every borrower was able to cross the finish line.

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.

Excellence Commercial Properties Co netted $100m from an offshore bond sale last Friday.

Langham Hospitality Investments has closed a HK$7.5bn ($958m) sustainability-linked deal with 11 lenders, marking the first loan of its kind from the hospitality sector in Asia.

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.

Bank of Communications Financial Leasing Co bagged $600m from a floating rate note (FRN), taking advantage of a strong preference from investors for a floating rate format compared to fixed.

Russian pulp and paper producer Ilim Group has launched syndication to refinance a $500m loan, according to bankers. The loan is one of the last expected to be signed in Russia's international syndicated market this year.

Citic Securities Co returned to the offshore market with a $700m dual-tranche transaction. The deal included a five year bond, a rarity from a Chinese securities house in recent years.

China Construction Bank returned to the international bond market on Tuesday, turning to dollar and euro investors with two separately-executed deals worth a combined $1.551 billion.

Industrial and Commercial Bank of China raised $1bn from two Libor-linked floating rate notes (FRNs) at record tight levels, a day after its peer Bank of China paid up to issue Asia’s first dollar floater tied to a new benchmark.

China Orient Asset Management Co (Orient AMC) priced an almost 10 times covered dual-tranche bond with strong backing from its lead manager consortium. The borrower went out without a keepwell deed from the onshore entity, but investors were undeterred by the structure.

Agricultural Bank of China’s Singapore branch has sold the tightest three year floating rate note (FRN) from a big four Chinese bank, adding $500m to its coffers.