China Construction Bank

Several Chinese borrowers have hit the loan market for two year money in recent months, in contrast to more established firms from the mainland which are pushing out tenors on their borrowings. While typically banks and borrowers prefer to lock in longer-term loans, for some the nature of the business and the lenders’ unfamiliarity with the company necessitates a shorter life to mitigate risks.

Property giant China Vanke Co and HNA Group Co came to the market on Thursday with dollar bonds, taking vastly different approaches. Vanke opted for a tenor of 10 years, but HNA kept it ultra-short.

A group of four lenders has joined a $300m loan for China Modern Dairy during general syndication. The newcomers were not scaled back from their initial commitments.

The Asian bond market opened with elation on Friday, following China’s blockbuster dollar transaction on Thursday that reset the curves not only of Chinese issuers, but for the rest of Asia as well.

The People’s Republic of China opened books on Thursday for its highly anticipated $2bn bond, its first issuance in the offshore dollar market in more than a decade.

CCB Frontier Capital (Hong Kong), the overseas arm of financial services firm CCB Trust, is tapping the international syndicated loan market for the first time, for a $200m borrowing.

Zhongrong Xinda Group Co and Jiangsu Nantong Sanjian Construction Group Co (JNTC) are set to make their debuts in the international bond market on Thursday, as Tongchuangjiuding Investment Management Group Co returns for a tap.

China Construction Bank Corp closed its first Singapore dollar bond on Monday, taking advantage of the thriving local currency market in southeast Asia.

Jiangsu Nantong Sanjian Construction Group Co (JNTC) has named banks to run its first dollar bond transaction. Separately, Chinese privately-owned company Yihua Enterprises (Group) Co has sealed its maiden international deal, raising $250m on Monday.

China Construction Bank Corporation launched a Singapore dollar bond on Monday, preparing to issue the bond through its local branch.

Bank of Zhengzhou Co’s inaugural offshore additional tier one (AT1) bond drew attention for the wrong reasons this week, after last-minute changes in the syndicate group — including one bank being dropped from the global co-ordinator group. Addison Gong reports.

Credit Suisse has expanded the responsibilities of two veteran bankers, naming one as the chairman of its Hong Kong operation and another as chief executive for Greater China.