Asia Pacific
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The first onshore dollar bond from a Chinese local government financing vehicle (LGFV) has showcased another funding option for indebted municipalities amid continued high onshore borrowing costs in local currency.
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As Beijing allows local municipalities to issue debt directly into the interbank bond market, the role of municipalities’ third-party vehicles is set to diminish — but not investors’ appetite for their bonds. -
State-backed technology companies are poised to launch their debut dim sum bond deals as early as this week, giving investors exposure to an industry that has so far played a minor role in the market.
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Agricultural Development Bank of China starts a two day deal roadshow on Tuesday with a view to issue a CNH bond.
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China Electronics Corporation Holdings Co is hoping to make its debut in the dim sum bond market this week to become the first Chinese state-owned enterprise (SOE) to enter the market this year.
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Four issuers from Finland, France, Australia and the UK are set to price covered bonds on Tuesday and Wednesday. Market conditions are broadly constructive, especially for higher yielding names, said bankers, but core issuers might have to offer concessions to tempt investors in a busy start to the year.
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Agricultural Development Bank of China starts a two day deal roadshow on Tuesday with a view to issue a CNH bond.
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China Development Bank (CDB) issued the debut bond from a financial institution in China’s stock exchange market on December 27 as regulators try to diversify the country’s debt markets. The final issuing size of the dual-tranche deal was Rmb12bn with a two year ticket sold at 5.80% and a five year portion offered at 5.84%.
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A total of 10 companies are poised to complete their IPOs by January after the CSRC started giving applicants the long awaited go-ahead after a more than one year long moratorium on new listings.
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China Development Bank (CDB) issued the debut bond from a financial institution in China’s stock exchange market on December 27 as regulators try to diversify the country’s debt markets. The final issuing size of the dual-tranche deal was Rmb12bn with a two year ticket sold at 5.80% and a five year portion offered at 5.84%.
