China Merchants Securities Co

China is pushing on with the development of its non-performing loans securitization market, which only restarted last month, with China Merchants Bank (CMB) sealing the asset class’s third transaction.

The list of Chinese real estate firms seeking to take advantage of the country’s Panda bond market is getting longer, with Agile Property Holdings the latest to have its application approved.

After taking a few days to consider the fallout from Brexit, warehouse developer China Logistics Property Holdings Co has thrown open books for its potential HK$3.4bn ($433.8m) listing.

China’s non-performing loans securitization market is quickly taking shape with China Merchants Bank set to launch the asset class’s third transaction following its restart last month. And the upcoming trade features a new type of underlying assets – micro loans.

A trio of issuers — China Huiyuan Juice Group, Hong Kong Airlines and Global Logistic Properties (GLP) — are preparing offerings in China’s Panda bond exchange market.

The securitization of non-performing loans in China is finally about to restart after having been mooted for months, with transactions from Bank of China and China Merchants Bank scheduled to launch next week.

China Merchants Securities Co is hoping to follow its peers onto the Hong Kong Stock Exchange with a third quarter listing.

Ford Auto Finance (China) returned to the auto ABS market last week with a Rmb2.98bn ($458m) offering that allowed it to cut its funding costs by 30bp.

Ford Auto Finance (China) is poised to launch its first auto ABS transaction of the year with a Rmb2.98bn ($464m) deal scheduled to open books next week.

Hong Kong’s Hsin Chong Construction Group managed to get a difficult $150m bond away this week, braving volatile markets with a two-day execution and private bank backing.

The Asia ex-Japan debt capital market was crowded with dollar issuers on January 13, with two investment grade bonds and two high yield notes opening in the morning.

China's Evergrande Real Estate Group navigated cautious markets and a rating downgrade on Monday with a reverse enquiry-driven bond that came with a fixed price. Bankers on the deal said it was a win-win for both the issuer and investors, given the volatile conditions.