ICBC

Chinese e-commerce company JD.com covered its Hong Kong secondary listing within a few hours of opening bookbuilding late last Friday evening, with orders continuing to pour in on Monday.

Two foreign issuers and a red-chip company tapped China’s onshore renminbi bond market this week, taking home Rmb6.2bn ($875m). Two more red-chip borrowers are waiting in the wings, with their deals slated for next week.

Chinese online game developer NetEase has raised HK$21.1bn ($2.7bn) from its secondary offering in Hong Kong, riding on strong investor support for its listing, according to a senior banker on the deal.

Many felt that Chinese banks, key investors in Schuldscheine, would pull back from the market as the pandemic hit. This has been far from the case.

Chinese online game developer NetEase had covered its HK$21.6bn ($2.8bn) secondary listing in Hong Kong multiple times over by the time GlobalCapital Asia went to press on Thursday. Investors have long awaited the company’s return from the US, pumping in orders as markets rallied despite numerous geopolitical headlines. Jonathan Breen reports.

Online game developer NetEase has begun bookbuilding for its long-awaited Hong Kong secondary offering. The company is aiming to raise around HK$21.6bn ($2.8bn).

More borrowers navigated Covid-19 related pressure and rising US-China tensions to raise funds from the dollar bond market on Thursday.

Citic Securities Co made its first dollar bond outing of the year on Wednesday, raising $1bn from a dual-tranche deal.

Shandong Hi-Speed Group Co and Taiyuan State-owned Investment Group were among the bond issuers on a relatively busy day for the primary dollar market on Wednesday.

Toyota Motor Finance (China) sealed a Rmb4.5bn ($629m) dual-tranche auto securitization deal on Wednesday. Its return to the onshore market was the latest in a series of tightly priced auto ABS outings.

Chinese online payments platform Yeahka rode on strong demand from both institutional and retail investors for its Hong Kong IPO, to price the HK$1.64bn ($211.9m) deal at the top of guidance.

Two Singaporean companies, GuocoLand and Manulife US Real Estate Investment Trust, raised green loans this week.