China Construction Bank
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China General Nuclear Power Corporation sold its second green bond in the euro market on Tuesday, nine months after its first success in the format. Last time the company sold green alongside five and 10 year conventional dollar bonds and this time it used a similar combination, replacing the 10 year dollar option with 30 year notes.
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First Abu Dhabi Bank (FAB) returned to the offshore renminbi bond market on Monday with its third issuance in the currency this year.
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China Fortune Land Co and Sunac China Holdings have closed new dollar bonds, following a pair of successful taps that proved the market is returning to form.
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Hang Lung Properties raised Rmb1bn ($149.8m) in its Panda bond sale on July 13. Most of the demand for the builder’s debut came from the offshore market, as mainland investors, guided by the government’s policy, kept their hands off real estate names.
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CNCB (Hong Kong) Investment, a subsidiary of China’s Citic Group, has started wooing banks to its $500m debut loan.
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Lukewarm demand for recent floating rate notes, and their underperformance in the secondary market, has raised a key question for Asian issuers: are investors falling out of love with dollar floaters? Morgan Davis finds out.
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Hong Kong-based Hang Lung Properties is hitting the Panda bond market for the first time, as it seeks to finance the construction of two shopping malls in the mainland. The issuer says the new buildings will be environmentally friendly, making the Rmb1bn ($150.9m) trade one of the few green Panda deals.
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Hong Kong’s Securities and Futures Commission (SFC) has censured CCB International Capital for its role as the sponsor on Fujian Dongya Aquatic Products’ planned IPO.
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CCB Financial Leasing Corp sold the only dollar bond from Asia ex-Japan this week, raising $400m from a five year floating rate note on Thursday. But bankers and analysts said that the once robust demand for the format is already showing signs of decreasing.
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China's Zhenro Properties Group opted for a slightly unusual bookbuilding process for its debut public dollar transaction, paying a yield of 11.5% for a two year bond.
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ICBC International Holdings' Thursday outing drew attention in both the primary and secondary markets. Its $700m floating rate note transaction captured a $5bn-plus book at its peak, with the bond then trading 8bp-10bp tighter in the aftermarket.
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Industrial and Commercial Bank of China (Asia) on Wednesday priced a triple-tranche green bond. But the deal, comparatively smaller than recent issues at $730m equivalent, had a moment of intrigue when one global co-ordinator left the syndicate group.