Bank of China

Three Chinese issuers visited the dollar bond market on Thursday, raising $1.2bn between them.

China Huarong Asset Management Co courted investors with a four-tranche deal this week, mixing fixed and floating rate tranches.

Haitong International Securities Group has closed its club loan at a bigger size of HK$12bn ($1.5bn) after finding support from a group of 19 lenders.

Investors rushed into Huaneng Power International’s dual-tranche $600m bond on Wednesday, attracted to the Chinese company’s investment grade rating.

Investors shrugged off concerns about Chinese local government financing vehicles to invest in Yiwu State-owned Capital Operation Co’s $400m bond sale this week. Despite the outbreak of Covid-19 (the coronavirus), there is still interest in mainland government-linked credits and the premium they offer. Morgan Davis reports.

Chinese borrowers continued to find strong response for their dollar bonds on Wednesday, despite the Covid-19 virus outbreak plaguing the country.

Agricultural Development Bank of China took Rmb1.5bn ($215m) from a tap of its outstanding dim sum bond on Tuesday. Thanks to little supply in the offshore renminbi bond market, the issuer pulled off a tightly priced deal, even finding support from price-sensitive hedge fund investors.

Yiwu State-owned Capital Operation Co raised $400m from a bond on Tuesday, showing that there is still interest in deals from Chinese local government financial vehicles (LGFVs) amid the outbreak of the novel coronavirus.

Right Lane, a wholly-owned subsidiary of Chinese conglomerate Legend Holdings, has returned to the market for a $350m loan.

Volkswagen Financial Services and United Utilities Water hit the sterling bond market this week to print £650m of debt. Issuers are finding a warm reception in the currency, despite the UK having left the European Union last Friday.

Sixteen banks led Baa2/BBB rated Huatai Securities Co's $400m floating rate transaction on Wednesday.

United Utilities Water hit screens with a £250m no-grow 18 year bond on Monday, with sterling issuers finding a warm market despite the UK having officially left the EU last week.