Shanghai Pudong Development Bank

A mix of Chinese policy banks, hospital builders and pharmaceuticals companies have put the domestic bond market to use to combat the coronavirus outbreak as the death toll nears 600. More mainland issuers are also readying deals as the country’s regulators introduce a faster registration process for such issuance, write Addison Gong and Rebecca Feng.

Jiangxi Provincial Water Conservancy Investment Group Corp sold its $300m debut international bond with no new issue premium, as strong investor support allowed the Chinese company to squeeze pricing.

Beijing Properties (Holdings) has returned for a $100m borrowing and a source close to the situation said syndication is unlikely to be difficult, despite some banks being averse to lending to the real estate industry.

Shanghai Pudong Development Bank Co priced a $300m floating rate note (FRN) at just a marginal premium over the curve of the big four Chinese lenders.

Chinese state-owned commodity chemicals producer Shanghai Huayi (Group) Co has sold an almost 10 times covered five year bond, while Yuzhou Properties Co raised $500m to fund a tender offer. Two local government financing vehicles also made their offshore debuts.

Chinese companies came to the international bond market in force on Tuesday, just days ahead of a week-long holiday in the Mainland to celebrate National Day.

A range of Chinese issuers, including two property developers and a local government financing vehicle, have raised funds from the dollar bond market.

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.

New Frontier Corp, a Hong Kong-based special purpose acquisition company (Spac), is planning to raise $300m-equivalent to support its $1.44bn purchase of China’s United Family Healthcare.

ANZ names regional head — SPDB hires new loans chief — ANZ adds to syndication team — Bank of America loses loans banker — Citi appoints execution head

China Citic International Bank’s Crystal So has joined Shanghai Pudong Development Bank to lead its loan syndication team, according to a source close to the move.

China’s Jinshang Bank kicked off its HK$3.42bn ($438m) Hong Kong IPO on strong footing on Friday, with the book well covered ahead of launch.