ICBC

Investors pumped more than $8bn in orders for Shenzhen Expressway Co's $300m capped bond on Thursday, with the Chinese issuer benefitting from its rarity value in the debt market and the stability of its business.

Dingdong (Cayman), a Chinese e-commerce company for fresh groceries, and its rival Missfresh are testing investor appetite at the same time for their US IPOs.

Zylox-Tonbridge Medical Technology, a China-based medical device maker, is looking to raise up to HK$2.56bn ($329.9m) from a Hong Kong IPO.

Senior and covered bond plans were flowing into the deal pipeline on Monday, with issuers keen to buck the softer tone and print before the start of the summer break.

Property manager Yuexiu Services Group has hit the road with an up to HK$2.41bn ($310.5m) IPO.

Germany’s BMW sold two Panda bonds in China’s interbank market on Thursday, tapping onshore liquidity with a publicly syndicated deal for the first time. The transaction was also a rare public outing from a ‘real’ Panda issuer.

Emirates Development Bank, which last entered the bond market with its debut in 2019, is one of many FIG borrowers from CEEMEA planning to tap investors this week.

Three issuers are planning to sell renminbi-denominated Panda bonds this week, bringing up to Rmb7.5bn ($1.17bn) of supply to China’s onshore market.

China Youran Dairy Group and Carsgen Therapeutics Holdings have both rolled out their Hong Kong IPOs.

SAIC Motor Corp’s auto financing arm is bringing a rare green auto loan deal to China’s ABS market. It is set to price the Rmb910m ($142m) transaction next week.

The ABS frenzy in China’s domestic market continued unabated this week, with three more originators launching their transactions. This included BYD Auto Finance Co, which made its internationally rated debut.

JD Logistics wrapped up its jumbo Hong Kong IPO on Thursday after a strong turnout from institutional investors, attracted to the company’s fair valuation and its parent’s credentials. The multi-billion-dollar listing is set to be the city’s largest float since the beginning of the year, writes Jonathan Breen.