Bank of China

China Merchants Bank raised $700m from a dual-tranche transaction on Tuesday, marketed by two different overseas branches with two different structures. But the issuer ran into negative market sentiment that dented appetite for the deal.

China Development Bank Financial Leasing Co had to tackle questions from investors and weaker market conditions to sell the first dollar tier two bond from a Mainland leasing company.

Power Construction Corporation of China (PowerChina) was back in the dollar market with a perpetual bond on Tuesday, nearly a year after its last deal.

Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.

Following investor calls last week, the Asian Infrastructure Investment Bank and the New Development Bank hit screens on Monday to announce new dollar benchmark transactions, which will be used to support their member states in the fight against the coronavirus pandemic.

Instant noodle maker Tingyi (Cayman Islands) Holding Corp was back with a $500m deal on Thursday after an eight-year hiatus from the dollar bond market.

Bond sales from Chinese issuers continued unabated on Thursday despite heavy supply in the first half of the week, with firms raising a combined $1.1bn from the debt market.

The Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB), two new supranational borrowers focused on the emerging markets, are preparing to issue new dollar bonds to support their member states in the fight against the pandemic.

Bank of China took yet another step this week to build China’s sustainability market by selling Asia’s first blue bond to benefit ocean-related projects — opening the door for similar deals from the region. Morgan Davis reports.

Tensions between the US and China dealt a blow to state-owned utility firm China Three Gorges Corp’s $1bn bond outing, which fell short of the lead banks’ pricing expectations.

Henan Water Conservancy Investment Group sold its maiden $500m bond on Tuesday, adding to the high grade supply from China’s local government financing vehicles (LGFVs). But its deal was not easy, with the issuer having to navigate a handful of obstacles.

Cathay Pacific Airways is asking lenders’ consent to exercise the extension option on a 2017 loan.