ICBC

Tensions between the US and China dealt a blow to state-owned utility firm China Three Gorges Corp’s $1bn bond outing, which fell short of the lead banks’ pricing expectations.

Crédit Agricole printed its long-awaited Rmb1bn ($146m) Panda bond this week, after delaying its offering by nearly three months due to volatility in China’s onshore debt market.

Chinese local government financing vehicle (LGFV) Guangzhou Metro Group Co priced a tight dual-tranche deal on Thursday, including a 10 year tranche for the first time, in a bid to take advantage of falling yields.

Chinese battery maker Contemporary Amperex Technology Co (CATL) made its debut in the bond market on Thursday with a $1.5bn dual tranche deal that saw demand of nearly $14bn coming in.

The Republic of Poland, the first European country to issue a Panda bond in August 2016, has finished the documentation process for its second onshore renminbi offering, GlobalCapital China understands.

Central China Securities Co opted for a short 363 day bond for its maiden dollar debt outing, testing the waters first before planning longer-dated deals and potentially getting an international rating.

CNCB (Hong Kong) Investment, a subsidiary of China Citic Group, is planning to repay a $800m loan raised in 2018 after struggling to get consent from lenders for covenant waivers.

Bank of Communications used its Hong Kong arm for a tightly priced dual-tranche deal on Thursday, bringing back floating rate and fixed rate combo bonds for Chinese financial credits.

Yum China, the Mainland-based fast food franchise operator, was eyeing at least HK$17.3bn ($2.2bn) in fresh equity on Friday after giving investors some price guidance for its secondary listing in Hong Kong.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

Fast food franchise operator Yum China Holdings is cooking a multi-billion-dollar secondary offering in Hong Kong. It is the latest deal in a growing trend that bankers expect will bring more US-listed Chinese companies to the exchange by the the end of 2020, writes Jonathan Breen.

Beijing Infrastructure Investment Co used a direct guarantee structure for its dollar bond return instead of a keepwell agreement, just days after keepwell deals sold by Peking University Founder Group were not recognised in a debt restructuring. The move paid off for the metro operator — bolstering the rating of its deal and helping it get away with tight pricing. Alice Huang reports.