Bank of China

Real estate developer China Aoyuan Group has closed a $225m-equivalent dual currency loan with nine banks in the syndicate.

Toyota Motor Finance (China) Co has sealed the senior tranches of its auto ABS deal at negative spreads to onshore benchmarks thanks to strong backing from Japanese investors, putting the post-Chinese New Year securitization market on strong footing.

China Development Bank Financial Leasing Co rode on solid demand for its dual tranche $1bn transaction on Thursday to seal the bonds inside of fair value, hitting both its targeted price and size.

Huatong International Investment Holdings Co, a Chinese local government financing vehicle, raised $600m from its bond on Thursday, but had to sacrifice a tighter price for a larger transaction.

Agricultural Bank of China (ABC) took a three-pronged approach to its deal on Tuesday, raising nearly $1bn across two dollar bonds and one Hong Kong dollar tranche. The bank was able to squeeze the spread on its notes to new lows, riding on the strong secondary market performance of deals from the big Chinese banks.

Toyota Motor Finance (China) Co plans to launch its first auto loan securitization deal of 2021 under the Toyota Glory series next week. The originator will open the onshore auto ABS market after the Lunar New Year break with a Rmb5bn ($774m) transaction — its largest to date.

Crédit Agricole has picked banks to run a planned senior preferred Panda bond, its third outing in the format. An investor call has been scheduled for next week.

Six Chinese companies sold Rmb6.4bn ($994m) of ‘carbon neutrality bonds’ this week, supporting Beijing’s goal of net zero carbon dioxide emissions by 2060. The format could lead to a spike in international investor interest in China’s debt market. Addison Gong reports.

Chinese bond investors welcomed the issuance of new ‘carbon neutrality bonds’ this week. Six companies raised a combined Rmb6.4bn ($994m) in the format, supporting Beijing’s goal of net zero carbon dioxide emissions by 2060.

Baidu has become the latest technology company from China to tap the loan market, breaking a four-year absence from syndication for a $3bn transaction. The company wants to take advantage of the growing popularity of tech deals among bank lenders. Pan Yue reports.

Whitbread, the UK hotel and pub company, enjoyed roaring demand for its debut green bond on Wednesday, as it managed to convince investors that it can plan for life after lockdowns.

Whitbread, the UK hotel and pub company, amended and extended its revolving credit facility at around the same time as it stormed the bond markets with a blowout debut green trade.