China Development Bank

China Development Bank became the latest name to take advantage of a liquidity-abundant market, snapping up $3bn-equivalent from three floating rate tranches in two currencies — in one of the largest FRN trades out of Asia.

China Development Bank Corp is making a swift return to the debt market with a floating rate transaction split between three and five year dollar portions and a 2020 tranche denominated in Hong Kong dollars.

China Development Bank priced a mammoth five tranche deal Tuesday, raising more than $4bn across three dollar and two euro tranches, making it the first Chinese name to issue a euro deal this year.

China Development Bank Corp is kicking off the year with a bang, launching a euro/dollar dual currency bond across five tranches Tuesday morning.

China Development Bank Corp has turned its sights on adollar-euro transaction to start its 2017 debt issuance.

China Development Bank Corp’s securities arm has raised more than Rmb3.6bn ($518.3m) from two state investors, in what the lender said was a prelude to an IPO.

Citic Resources Holdings signed a $310m three year self-arranged term loan on Thursday, with five banks joining the trade.

China Development Bank Hong Kong gave investors a dual option on October 27, issuing a five year dollar bond and a three year euro deal, finding space in a crowded market that saw six other trades hit the screens.

Seven deals launched Thursday as issuers came out in force to raise money ahead what is expected to be greater market uncertainty in November.

The World Bank broke a 30 year silence in special drawing rights (SDR) bonds with the sale of the SDR500m ($700m) three year note in China on Wednesday. While the Mulan bond is widely seen as a symbolic gesture to promote the internationalisation of the renminbi, market participants said it is more than just that in spite of the relatively narrow investor base.

CDB Capital generated close to $4bn in demand for its debut bond on Tuesday, raising $500m. Despite some bankers having said the trade had a weaker structure than its comparable, robust demand from onshore accounts allowed the issuer to price through fair value.

CDB Capital, a wholly-owned subsidiary of China Development Bank Corp, is looking to raise as much as $500m from a new deal while unrated China Minsheng Investment Corp has returned for a three year bond, with both relying on keepwell structures.