China Minsheng Banking Corp
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Three Chinese real estate developers braved a volatile market on Thursday, raising $800m as fears around the coronavirus continued to ravage secondary prices. -
China Huarong Asset Management Co courted investors with a four-tranche deal this week, mixing fixed and floating rate tranches.
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China’s Bank of Communications came out with a $1.95bn-equivalent three-tranche deal on Thursday. It opted for a bigger dollar portion and a slimmer offshore renminbi (CNH) bond, compared with its last outing.
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Seven borrowers from Greater China raised about $2bn from new dollar bonds on Monday, while Hong Kong's Cathay Pacific tapped the Singapore dollar market.
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Chinese solar power operator Panda Green Energy Group has extended the deadline of a distressed exchange offer. The new note issuance will now be finalised in the same week that its $350m bond becomes due.
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Chinese local government financing vehicle (LGFV) Weifang Binhai Investment Development Co made its debut in the dollar market last Friday with a 363 day bond.
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China’s Tianfeng Securities Co, based in the Hubei province, has sold its first dollar transaction, raising a modest amount of $200m after a large price tightening.
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State-owned China Petrochemical Corp (Sinopec) raised $2bn from three dollar bonds on Monday, making a rapid comeback to the debt market.
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China Orient Asset Management Co (Orient AMC) priced an almost 10 times covered dual-tranche bond with strong backing from its lead manager consortium. The borrower went out without a keepwell deed from the onshore entity, but investors were undeterred by the structure.
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Six Greater China borrowers, including Industrial and Commercial Bank of China (Macau) and an unrated property developer, have wooed bond investors to their new dollar deals.
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China Industrial Securities International Financial Group kick-started the new week for the debt market with a $200m bond on Monday.
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Chinese provincial government-owned Shandong Hi-Speed Group Co has pushed out its maturity profile with a $1.4bn dual-tranche transaction. It priced the senior perpetual tranche at the same level as some of its bigger state-owned peers, thanks to a six times covered order book.
