China Construction Bank
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CCB Financial Leasing Corp sold a $700m dual-tranche transaction on Wednesday, without paying a new issue premium on either tranche, and pushing the pricing on the $200m 10 year some 10bp inside its curve. -
China Construction Bank sold a Rmb10.25bn ($1.53bn) four-tranche RMBS on Tuesday with an international rating.
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Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.
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Chinese online travel agent Ctrip.com International has launched its first offshore deal, for €600m, two years after raising a larger onshore facility.
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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.
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Tesla has raised the equivalent of $521m from the loan market, helping fund its Shanghai factory.
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China State Construction International Holdings returned to the dollar bond market, adopting an unusual structure that raised many questions even after the $500m credit-enhanced deal was priced.
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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.
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Should bond investors be worried about Chinese local government financing vehicles (LGFVs)? After a recent default had almost no impact on the secondary or primary markets, most investors appear to have put aside their concerns. At least for now. Addison Gong reports.
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Chinese government-related issuers Zhaojin Mining Industry Co and Yunnan Provincial Investment Holdings Group Co priced dollar bonds after what bankers said was smooth bookbuilding, defying fears that followed a recent default by a local government financing vehicle.
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New Development Bank, the multilateral development bank, returned to the Panda bond market on Monday. It raised Rmb3bn ($446m) from a tightly-priced green bond.
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In this round-up, Malaysia's finance minister said his country may sell a Panda bond, the HKMA and the PBOC are working on cross-border mobile payments and Chinese issuers raised $8bn from the offshore market.
