Asia Pacific

Chinese property companies are pushing their fund-raising for 2018 to the bitter end – with sometimes surprising results. Cifi Holdings scored with a larger-than-expected $400m bond on Monday, while Redsun Properties Group sold a $200m tap.

Indian Oil Corp is in the market with a $1.3bn financing, in yet another sign the country’s famously stingy borrowers are allowing pricing to inch up.

Wuhan Financial Holdings Group Co made its dollar market debut on Monday, raising $142m from a three year club-style deal.

Sustainability is conquering finance — to judge by what the industry likes to talk about. Outside the window, the real economy continues much as before. Is all the noise about green finance actually shifting capital in the right direction — or is it just making people feel better?

Bank of China Group Investment, a Hong Kong-based wholly owned subsidiary of Bank of China, will price a Rmb2bn ($290m) three year note on Tuesday. But some rivals have raised questions about whether the deal is a true funding exercise.

Zhongyu Gas Holding has returned to the offshore loan market for its second borrowing this year, offering a $250m three year facility.

Shanghai Henlius Biotech has joined a growing pipeline of biotechnology firms planning to float in Hong Kong. It wants to list in the first quarter of 2019, said a banker working on the transaction.

Bonds issued by China’s Kangde Xin Composite Material Group plummeted in the secondary market on Monday, losing around a third of their value after rumours of an onshore default.

Shanghai Junshi Biosciences has raised HK$3.08bn ($394.2m) after pricing its IPO at the bottom of the range, according to a banker on the deal.

Bank of Jinzhou is planning to raise HK$8.22bn ($1.05bn) through a private placement of H-shares, according to a filing with the Hong Kong Stock Exchange.

Regulators agreed to impose a tighter identification regime for southbound trading of Stock Connect, foreign direct investment (FDI) into China dropped for the third month, and the Ministry of Finance (MoF) confirmed temporary import tariff cuts for automobiles from the US.

Philippine Savings Bank wants to raise Ps8bn ($150.84m) from a rights issue early next year, fixing the price of the offering at Ps56 apiece.