Bank of China

Veolia Environnement, a French water, waste and energy management company, raised Rmb1.5bn ($212m) from a three year private placement Panda bond on Monday, pricing the deal inside of expectations.

Bank of China (BOC) raised $1bn from a dual tranche transaction at a negative premium on Thursday, after strong demand from its large syndicate group.

Taiyuan Longcheng Development Investment Group Co, a local government financing vehicle (LGFV), has raised $300m from a three year bond.

China National Petroleum Corp (CNPC) has returned to the dollar bond market after a six year absence, selling a three-tranche deal that generated $21bn of orders at the peak.

Crédit Agricole has mandated seven banks for its second outing in China's onshore renminbi market. The deal, again taking the form of a senior preferred bond, is expected to price next week.

Hotel and casino operator Wynn Macau followed its gaming peers into the dollar bond market last Friday, but weaker market sentiment meant the borrower failed to tighten guidance on its $750m deal.

Asian Infrastructure Investment Bank took home Rmb3bn ($424m) from its debut Panda bond on Thursday, at a price that was well below levels of its comparables. Senior officials at the Beijing-based supranational bank told GlobalCapital China that it wasn’t all smooth sailing, but the deal shows the potential of the renminbi debt market.

China Mengniu Dairy Co hit the debt market straight after a profit warning, but still managed to attract investors to its $800m dual-tranche bond, tightening pricing on both portions by 80bp.

Everbright Water pulled a Rmb1.2bn ($170m) five year note on Tuesday, despite the leads extending bookbuilding and offering investors a juicier price.

Two foreign issuers and a red-chip company tapped China’s onshore renminbi bond market this week, taking home Rmb6.2bn ($875m). Two more red-chip borrowers are waiting in the wings, with their deals slated for next week.

Many felt that Chinese banks, key investors in Schuldscheine, would pull back from the market as the pandemic hit. This has been far from the case.

Uralkali, the Russian potash fertiliser producer, signed a $665m pre-export facility (PXF) with a consortium of international banks, as lenders say that Russian borrowers seeking funding are finding pricing remains the main point of contention with lenders.