Bank of China

Bank of China Group Investment, a Hong Kong-based wholly owned subsidiary of Bank of China, will price a Rmb2bn ($290m) three year note on Tuesday. But some rivals have raised questions about whether the deal is a true funding exercise.

Three Chinese local government financing vehicles (LGFVs) managed to push out last-minute dollar deals before the year end on Tuesday, while property developer Kaisa Group Holdings raised $300m from a 365-day bond at a double-digit yield.

Hungary is planning to sell a Rmb2bn ($290m) three year Panda bond on December 17, becoming the first and only sovereign returnee to the market.

Anta Sports Products has mandated six banks for a €2.2bn loan to back the €4.6bn acquisition of Finnish sports brand Amer Sports Oyj.

China’s Haitong Securities priced a dual-currency transaction on Thursday, heading to the euro market for cheaper funding. Another issuer, Peking University Founder Group, was looking to price an up to €100m deal on Friday.

WuXi AppTec priced its IPO at the mid-point of the range to raise HK$7.92bn ($1.01bn), despite the deal being oversubscribed at the upper end of guidance, according to a source close to the listing.

WuXi AppTec is set to raise about HK$7.9bn ($1.1bn) from pricing its Hong Kong listing at the mid-point of the indicative price range, according to a source close to the deal.

Policy lender China Development Bank printed a dual-currency, three-tranche transaction on Tuesday, raising $2.4bn-equivalent. While it paid just a couple of basis points of new issue premium for the dollar bonds amid a short-lived market rally, demand for the euro portion exceeded expectations.

Investor demand for more new issue premium forced China’s Citic Securities Co to price a smaller-than-expected $300m bond on Monday.

Tencent Music Entertainment Group has begun bookbuilding for its long-awaited $1.23bn IPO in the US, around two months after first gauging investor appetite.

Australian coal producer Yancoal has raised HK$1.61bn ($206m) from its Hong Kong IPO after pricing it at the bottom of guidance.

As the Chinese offshore bond pipeline continues to build, it is inevitable that issuers will increasingly use anchor order support to get their deals past the finish line. But the reliability of this approach was thrown into question this week, writes Addison Gong.