Bank of China

Hotel and casino operator Wynn Macau followed its gaming peers into the dollar bond market last Friday, but weaker market sentiment meant the borrower failed to tighten guidance on its $750m deal.

Asian Infrastructure Investment Bank took home Rmb3bn ($424m) from its debut Panda bond on Thursday, at a price that was well below levels of its comparables. Senior officials at the Beijing-based supranational bank told GlobalCapital China that it wasn’t all smooth sailing, but the deal shows the potential of the renminbi debt market.

China Mengniu Dairy Co hit the debt market straight after a profit warning, but still managed to attract investors to its $800m dual-tranche bond, tightening pricing on both portions by 80bp.

Everbright Water pulled a Rmb1.2bn ($170m) five year note on Tuesday, despite the leads extending bookbuilding and offering investors a juicier price.

Two foreign issuers and a red-chip company tapped China’s onshore renminbi bond market this week, taking home Rmb6.2bn ($875m). Two more red-chip borrowers are waiting in the wings, with their deals slated for next week.

Many felt that Chinese banks, key investors in Schuldscheine, would pull back from the market as the pandemic hit. This has been far from the case.

Uralkali, the Russian potash fertiliser producer, signed a $665m pre-export facility (PXF) with a consortium of international banks, as lenders say that Russian borrowers seeking funding are finding pricing remains the main point of contention with lenders.

China’s Zhongyu Gas Holdings has launched a $300m refinancing loan into general syndication.

The Asian Infrastructure Investment Bank has hired banks for a renminbi sustainable development bond, its first outing in the Panda market.

Citic Securities Co made its first dollar bond outing of the year on Wednesday, raising $1bn from a dual-tranche deal.

Shandong Hi-Speed Group Co and Taiyuan State-owned Investment Group were among the bond issuers on a relatively busy day for the primary dollar market on Wednesday.

Hong Kong property company Hysan Development Co returned to the bond market on Tuesday, raising $400m in spite of the political turbulence that has rocked the special administrative region.