China Development Bank

China Development Bank (CDB) reopened a dual-currency transaction on Wednesday, bagging a $2bn equivalent from the euro and dollar tap. With strong demand from onshore investors, the policy lender was able to cut cost while raising more than the size of the original bond.

The Asian market finally saw some signs of activity on Wednesday with China Development Bank and Vista Land & Landscapes opening taps for their respective dollar bonds.

China’s Haier Group is expected to use bank loans to fund up to $3.3bn of its forthcoming $5.4bn acquisition of US-based GE Appliances. Bankers have predicted an onshore China takeout, but the fundraising structure has not yet been disclosed, reports Shruti Chaturvedi.

Chinese company Haier has enlisted three lenders to fund its $5.4bn acquisition of Kentucky headquartered GE Appliances.

Sistema JSFC, the holding company of a Russian investment firm, has signed a $350m club loan with two Chinese banks.

Airport Authority Hong Kong (AA) has tied up a HK$5bn ($645m) five year fundraising with a group of 21 banks that were undeterred by the sub-100bp pricing.

Guangdong Rising Asset Management (GRAM) has completed its inaugural offshore outing with a standby letter of credit from China Development Bank, with the leads finding it a challenging process to pick the best comparables.

Chinese pair Guangdong Rising Asset Management (GRAM) and HNA Group hit the dollar bond market on Wednesday as they look to wrap up their respective fundraisings ahead of the US Thanksgiving holiday.

A pair of issuers based in southern China – Guangzhou Metro Group and Guangdong Rising Assets Management (GRAM) – are planning to make their respective debuts in the dollar bond market this week.

Two leasing companies have rolled out their loans into general syndication, with China Universal Leasing seeking Rmb800m ($126m) from onshore lenders and CDB Leasing looking for $300m offshore.

CDB Leasing has approached lenders for a $300m fundraising, marking its second outing in the loan market this year.

CDB Leasing Co, an arm of China Development Bank, is planning to raise around $1bn via a Hong Kong IPO in the first half of 2016, with three banks expected to lead the transaction.