Standard Chartered

China Great Wall Asset Management Co reopened bond supply from the country's bad debt managers this week with a tightly priced $500m deal.

Hong Kong-based Li & Fung used a coupon step-up in case of a rating downgrade to attract investors to its $300m bond on Tuesday, as it gears up for a big hit to its business this year as a result of Covid-19.

Redco Properties Group returned to the dollar market with a sub-one year bond on Tuesday, two weeks after using up its offshore issuance quota.

Chinese property developer Yanlord Land Group has increased the size of its latest borrowing to $1.1bn-equivalent after receiving strong response during syndication.

Chinese local government financing vehicle Qingdao China Prosperity State-owned Capital Operation (Group) Co followed its peers to take an aggressive approach to pricing its $200m bond.

Agricultural Development Bank of China’s Rmb4.3bn ($618m) dim sum bond this week brought in a record number of investors from outside of Asia, a senior treasury official told GlobalCapital China.

CMB Financial Leasing Co returned with five year and 10 year dual-tranche bonds on Wednesday, selling the first decade bond from a Chinese FIG credit in more than a month as costs for longer-dated notes fall.

Chinese local government financing vehicle (LGFV) Yiwu State-owned Capital Operation Co replicated its peers’ recent bond pricing success, to raise $500m with a 65bp price tightening during bookbuilding.

Agricultural Development Bank of China raised Rmb4.3bn ($618m) from its second dim sum outing this year. Thanks to strong support from Chinese banks, the offshore renminbi bond market offered the issuer clear pricing advantages over the onshore market.

A recent flurry of bonds from financial institutions did not dent appetite among investors for China International Capital Corp’s (CICC) $500m deal on Monday.

Two Indian companies have struggled to find demand in syndication for deals that were priced before Covid-19 shut down the country. But bankers are optimistic about the fate of India’s offshore loans market — as long as borrowers accept a rise in funding costs. Pan Yue reports.

A flexible approach to its $750m bond paid off for India’s Adani Ports and Special Economic Zone, which navigated weak market sentiment and demanding investors by changing its tenor, size and price expectations. Morgan Davis reports.