Bank of China

WH Group has turned to banks for about $1.25bn to fund a share buy-back, as the world’s largest pork company takes advantage of attractive market conditions to raise a new loan. Unlike its acquisition fundraising eight years ago, which received plenty of criticism and pushback from lenders, the market’s response this time around is different — despite some initial confusion, writes Pan Yue.

Three issuers are planning to sell renminbi-denominated Panda bonds this week, bringing up to Rmb7.5bn ($1.17bn) of supply to China’s onshore market.

Industrial Bank has sold a dual-currency deal through its Hong Kong branch, becoming the first Chinese lender to print an offshore ‘carbon neutrality bond’. It relied heavily on support from a 42-member syndicate team, as well as its relative rarity in the international debt market, to nab around $922m.

Two Chinese local government financing vehicles joined the flurry of dollar bonds in the Asia market on Thursday.

The co-head of the EMEA debt capital markets centre at Bank of China in London has resigned.

SAIC Motor Corp’s auto financing arm is bringing a rare green auto loan deal to China’s ABS market. It is set to price the Rmb910m ($142m) transaction next week.

A handful of Chinese investment grade names bombarded the dollar debt market on Tuesday, taking more than $2bn.

Two Chinese local government financing vehicles (LGFVs) raised a combined $480m on Thursday, following a quiet start to the week due to a public holiday.

The ABS frenzy in China’s domestic market continued unabated this week, with three more originators launching their transactions. This included BYD Auto Finance Co, which made its internationally rated debut.

Property developer China Vanke Co brought a rare investment grade-rated corporate deal to the offshore renminbi (CNH) bond market on Monday, pricing the deal inside its dollar curve after a warm response from investors.

Chinese state-owned Sinochem Group, an oil and chemicals company, has returned to the loan market after one year for a $500m deal.

Three Chinese companies decided to tackle their refinancing needs on Monday with new bonds, grabbing a short issuance window ahead of a public holiday in Hong Kong and some other Asian markets on Wednesday.