Bank of Communications

Chinese online travel agent Ctrip.com International has launched its first offshore deal, for €600m, two years after raising a larger onshore facility.

Bank of Communications Hong Kong branch has raised over $1.6bn from bonds in three different currencies. The pricing of its US dollar floating rate tranche defied market expectations.

China’s state-owned ‘bad debt’ managers are making a comeback in the offshore market, after a rally in the sector. China Orient Asset Management Co this week became the second in a month to price bonds and there are more deals on the way. Addison Gong reports.

Chinese local government-owned power generator Chongqing Energy Investment Group Co wrapped up its inaugural offshore bond, finding enough demand to support an aggressive price tightening.

Peking University Founder Group Co priced a $200m bond tap on Friday, getting ahead of a disappointing non-farm payroll report..

China Development Bank Financial Leasing Co (CDBL) has raised $700m from the bond market, leaning on anchor orders to squeeze a tight final price.

Haitong International Securities has boosted an offshore borrowing to HK$16bn ($2bn) after receiving strong demand during the syndication.

Dollar bond supply from China continues unabated. China Vanke Co and Agile Group Holdings joined their real estate peers in a recent spree, raising $1.1bn between them, while science park operator TUS-Holdings priced a $350m dollar bond.

The Export-Import Bank of China raised €1bn from a three year bullet on Wednesday, bringing home more cash than expected thanks to overwhelming orders from eager investors.

ICBC Financial Leasing Co pulled off an ultra-tight spread on both tranches of a $1.5bn bond. The issuer built a mammoth order book with generous initial guidance but ultimately pushed investors inside fair value estimates.

When will the supply of Chinese property bonds end? Bankers detected hints of indigestion after a rush of deals last week, but that does not appear to have slowed down the mass of supply. Five more companies turned to dollar bond investors on Monday.

Zhejiang New Century Hotel Management has covered the books for its Hong Kong IPO after hitting the road with a deal that will be worth as much as HK$1.4bn ($178.8m).