Corp - All articles

  • Evergrande’s bonds, stocks up on SOE tie-ups

    China Evergrande Group got a boost to its bond and stock prices on Monday, after its flagship subsidiary convinced a large group of equity holders not to exercise a put option. The company also secured two new state-backed investors.

    • 23 Nov 2020
  • Investors still waiting for Changxing's debut bond

    Changxing Urban Construction Investment Group Co, a Chinese company focused on construction services, announced its debut dollar transaction on Thursday. But the deal was not priced as of Monday, GlobalCapital Asia understands.

    • 20 Nov 2020
  • China default fears rise after SOEs allowed to miss payments

    China’s onshore bond market has been hit with a number of high-profile defaults from state-owned issuers, undermining primary supply and leading to a spike in secondary yields. Addison Gong reports.

    • 19 Nov 2020
  • AC Energy powers up fixed-for-life bond structure

    Philippine company AC Energy found good support for a $300m fixed-for-life green perpetual bond on Wednesday, with demand from existing and new investors, as well as domestic fund managers.

    • 19 Nov 2020
  • Wuhan construction company builds $200m bond

    China Gezhouba Group Co raised $200m from a subordinated perpetual bond on Wednesday.

    • 19 Nov 2020
  • Central China pushes out $300m bond

    Central China Real Estate paid up for its $300m return to the bond market on Tuesday, navigating weaker investor sentiment to get its deal over the finish line.

    • 18 Nov 2020
  • Jingrui nets $240m from LM outing

    High yield property company Jingrui Holdings raised $240m on Monday as part of an exchange and new money exercise.

    • 17 Nov 2020
  • Bond market gets slow start as Trump, onshore China default raise caution

    Asia’s primary bond market started on a slow note on Monday, surprising debt bankers who were gearing up for strong deal flow. But recent announcements from the US over China investment, coupled with rising US Treasury yields and a default in the Mainland bond market, have given issuers some pause.

    • 16 Nov 2020
  • Chinese government-owned trio raise dollars

    Government-backed Chinese issuers Shandong Hi-Speed Group Co, Wuhan Trading Group and a local government financing vehicle from Xi’an ventured to the offshore dollar bond market on Thursday. They raised a combined $880m.

    • 13 Nov 2020
  • Dairy giant Yili debuts with $500m bond

    Chinese dairy products manufacturer Inner Mongolia Yili Industrial Group Co made its inaugural appearance in the offshore bond market on Thursday. Huaxin Cement Co also printed its first dollar deal.

    • 13 Nov 2020
  • Savvy Asian issuers drive LM to the mainstream

    Chinese property borrowers are increasingly taking a strategic approach to managing their liabilities by tendering old notes when new bonds are announced. The trend has taken off this year, and is set to be the norm as issuers become more proactive in tackling their refinancing needs sooner rather than later. Morgan Davis reports.

    • 12 Nov 2020
  • Chinese borrowers rush to bond market

    A flurry of Chinese corporations rushed to the dollar bond market on Wednesday, raising a total of $1.19bn between them.

    • 12 Nov 2020
  • VW returns to China ABS with bigger revolver

    Volkswagen Finance (China) priced a nearly Rmb8bn ($1.2bn) auto loan asset-backed securities deal this week, the eleventh in its Driver China series.

    • 11 Nov 2020
  • Tsinghua Unigroup bonds plunge to new low

    Dollar and renminbi denominated bonds of cash-strapped Chinese issuer Tsinghua Unigroup Co were heavily sold off this week, following renewed concerns over the company’s debt repayment ability.

    • 11 Nov 2020
  • Redco uses up bond quota to meet refi needs

    Redco Properties Group has tackled some of its upcoming maturities by selling a new $266m bond to refinance debt.

    • 11 Nov 2020
  • Longyuan Power makes strong bond return

    Wind power giant China Longyuan Power Group Corp found overwhelming support for its $300m bond sale, with investors giving the firm’s state ownership, deal timing and sector of operation a big thumbs up.

    • 11 Nov 2020
  • China property companies keep up bond momentum

    Three Chinese property companies launched dollar bonds on Monday, continuing to take advantage of the post-US election momentum.

    • 10 Nov 2020
  • Evergrande abandons A-share backdoor listing

    China Evergrande Group has abandoned a backdoor listing plan for its property arm and flagship subsidiary Hengda Real Estate on the Shenzhen exchange, ending a reorganisation that started four years ago.

    • 09 Nov 2020
  • Bond market bounces back after US elections

    Three property companies from Greater China hit the bond market last Friday, raising $850m between them even as the US presidential election battle raged on. With Joe Biden now announced as the president-elect, the issuance spree in Asia only picked up pace on Monday.

    • 09 Nov 2020
  • After Asian bond issuers step back for the US election, bond bankers prepare for busy return

    Asia’s dollar bond issuers hit pause this week as all eyes turned to the outcome of the nail-bitingly close US presidential election. With the result still uncertain on Thursday, but signs showing a Joe Biden victory as a possibility, some bankers in the region reckon the debt market may be at full throttle from next week. Morgan Davis reports.

    • 05 Nov 2020
  • Fujian Yango serves up 12% bond yield

    Fujian Yango Group Co returned with another high yielding bond on Tuesday, making it the only Asian issuer to brave the primary dollar debt market ahead of the US election.

    • 04 Nov 2020
  • 'The Chinese bid': don’t count on it

    Ask any debt banker in Asia about 'the Chinese bid' and they will tell you how dramatically demand from the country has transformed the dollar bond market. But a handful of recent deals from the country’s local government financing vehicles should give borrowers pause. This source of demand cannot be taken for granted.

    • 03 Nov 2020