China Everbright Bank Co
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Chinese technology giant Baidu grabbed $1bn from a bond on Thursday, while a local government financing vehicle (LGFV) in Hunan raised $300m from a deal that was less than twice covered at its peak.
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Chinese local government financing vehicle Chengdu Hi-Tech Investment Group Co and real state company Jiayuan International Group both relied on anchor interests for their dollar bonds on Tuesday.
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China Evergrande Group’s $1.8bn return to the bond market this week split opinion. The ultra-high yield deal, which sent the company’s secondary bonds spiralling, was largely sold to Evergrande’s chairman — a move that attracted a mix of outrage and admiration. Morgan Davis reports.
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China Evergrande Group raised $1.8bn in an unusual three-tranche deal on Tuesday that saw its chairman purchase $1bn of the notes as a show of support for the company.
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Chinese state-owned enterprise (SOE) Shandong Gold Group Co achieved size with its three year outing on Monday, raising $600m. Another government-linked entity in the province, Weifang Urban Construction and Development Investment Group Co, debuted in the offshore market with a $250m trade.
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Fortune Choice is tapping the offshore loan market for a HK$5.2bn ($664m) fundraising to support the development of a residential building in Hong Kong.
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Four Chinese high yield issuers sealed bonds on Wednesday, when a total of nine deals were priced in the primary market in Asia ex-Japan, making it the busiest day in the region in months.
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China Everbright Bank Co continued its push to reach more European debt investors this week with its debut green dollar bond, raising $300m.
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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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China Aoyuan Property Group was back in the offshore market on Wednesday for the fourth time in as many months, using a dual-currency transaction to settle the last $300m of its fundraising quota.
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Beijing Properties sold a two year bond last week after getting demand from some of the Chinese banks who joined the deal. That allowed the leads to launch the bond with little worry it would drag on over the weekend.
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China Aircraft Leasing is back with a $790m borrowing, pushing for a longer tenor to support its aircraft purchasing.