Bank of China

Eight Chinese issuers are readying the first batch of sustainability-linked bonds (SLBs) in the onshore market, set to be priced later this week after the Labour Day holiday.

Two Chinese government-linked companies raised a combined $600m in the offshore market on Thursday, ahead of the long weekend in China.

Beijing Enterprises Holdings battled weakened sentiment around Chinese state-owned enterprises to sell a $700m dual tranche transaction on Wednesday. The company was able to price a successful deal, but only after overcoming recent fears about Chinese issuers. Morgan Davis reports.

Shanxi Securities Co sold a heavily anchored $200m bond on Tuesday, relying largely on Chinese banks for its second international deal.

Blackstone Property Partners Europe Holdings, a real estate investor, got enough demand for its bonds this week for it to price the debt flat to its curve and increase the size of the deal from expectations, as high grade corporate investors betrayed no sign of indigestion despite the recent deluge of debt issuance from the sector.

Red chip issuer China Power International Development raised Rmb2bn ($308m) from a three year bond last week, raising the money largely to pay a mix of offshore and onshore bank loans.

Bank of China sold one of its high-profile multi-currency, multi-tranche bond deals on Wednesday. The trade, which spanned five of the bank's global branches, raised a combined $2.35bn.

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Yorkshire Water priced a £350m bond inside fair value on Tuesday, shrugging off allegations that it had failed to properly report dumping waste water, although a few investors did raise the subject during marketing.

Hong Kong-listed ESR Cayman, a logistics real estate company, has raised a $400m dual-tranche borrowing.

China-based Herald International Financial Leasing Co, a unit of BMW Group, has returned to the onshore securitization market. It switched to a straightforward two-tranche structure for the Rmb3bn ($461m) auto lease asset backed notes (ABN), pricing the senior tranche at a competitive spread.

A handful of investment grade corporate borrowers are out with mandates on Monday, with market conditions improving for them after last week’s bonds have traded tighter despite pricing with small premiums.