Bank of Communications
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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. -
Loans syndicate bankers in Asia are keeping busy until the end of the year with new deal launches from across the region.
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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.
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China’s Kunming Dianchi Water Treatment has launched its debut offshore loan of $150m.
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Agricultural Development Bank of China (ADBC) has dipped into the euro market for the first time to diversify its investor base, despite having no real need for the currency and having to pay up for the fundraising.
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A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.
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Beijing Enterprises Group and Youyuan International Holdings hit the loan market this week for their latest syndicated fundraisings.
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Industrial Bank Co’s Hong Kong branch has priced a dual-currency green bond, offering a pick-up of around 10bp over recent prints from China’s big four lenders.
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Beijing Enterprises Group is in the market for a HK$4.5bn ($575m) five year term loan launched through eight banks.
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China Development Bank Financial Leasing Co (CDB Leasing) raised $400m through its aviation leasing arm on Thursday, paying around 10bp of new issue premium for a three year floating rate note.
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The People’s Bank of China will issue bills worth Rmb20bn ($2.87bn) in Hong Kong next week, in what analysts see as a signal of closer oversight of offshore renminbi (CNH) liquidity.
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Agricultural Bank of China's Hong Kong branch became one of only two issuers to print floating rate notes (FRNs) in October, raising $800m on Wednesday.
