Shanghai Pudong Development Bank

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

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.

Bank of East Asia (BEA) sold the first Basel III compliant tier two dollar bond in Asia since the global outbreak of Covid-19. It raised $600m on the back of a book that was more than 8.5 times oversubscribed at its peak.

Luxshare Precision, a Chinese designer of cable assemblies, has launched a $500m loan into syndication, hiking up the margin on offer due to changing market conditions caused by Covid-19.

Chinese biotechnology company InnoCare Pharma’s shares surged over 10% on their Monday debut, following an online opening ceremony for the HK$2.2bn ($288.7m) listing in Hong Kong.

Chinese biotechnology firm InnoCare Pharma has priced its HK$2.2bn ($288m) IPO at the top of the marketed range, following solid demand from institutional and retail investors, according to bankers close to the deal.

Global equity capital markets suffered severe hits this week, as governments scrambled to respond to an escalation in the coronavirus pandemic. But amid the mayhem, InnoCare Pharma saw an opportunity to launch its IPO, treating Hong Kong to its largest listing in about two months. Jonathan Breen reports.

Chinese biopharmaceutical firm InnoCare Pharma kicked off bookbuilding for its Hong Kong IPO on Wednesday, securing over half of the deal with cornerstone investors.

Chinese brokerage Shenwan Hongyuan Securities is out for a one-year bridge loan, seeking HK$3bn ($385m) for its international loan market debut.

Four Chinese property companies raised $2bn between them from dollar bonds on Monday, coming at a particularly turbulent day for markets globally as fears rise around the rapid spread of Covid-19 outside of the Mainland.

Three Chinese issuers visited the dollar bond market on Thursday, raising $1.2bn between them.

Haitong International Securities Group has closed its club loan at a bigger size of HK$12bn ($1.5bn) after finding support from a group of 19 lenders.