Bank of China

China Petrochemical Corp (Sinopec) navigated a weak market following this week’s rate cut announcement to raise $2bn from a three-tranche deal. While it took a smaller amount than usual, its transaction was well-timed, say bankers.

Hungarian gas and oil company MOL has extended part of an existing €555m revolving credit facility by one year, in what is one of the few sparks of activity in the country's syndicated loan market so far this year.

Chinese provincial government-owned Shandong Hi-Speed Group Co has pushed out its maturity profile with a $1.4bn dual-tranche transaction. It priced the senior perpetual tranche at the same level as some of its bigger state-owned peers, thanks to a six times covered order book.

Chinese real estate company Country Garden has closed its $1.1bn-equivalent syndicated loan.

Agricultural Bank of China’s Hong Kong branch raised $1bn from a single tranche floating rate note on Tuesday, pricing the deal tighter than its large Chinese state-owned banking peers.

China’s JIC Leasing Co priced a tight $500m bond on the back of strong support from the lead managers, after launching the transaction on a weak day for Asian capital markets.

Indonesian power company Perusahaan Listrik Negara (PLN) has launched a $1bn five year deal into syndication, with bank meetings set to kick off at the end of the month.

BMW returned to China’s auto loan ABS market on Tuesday with a Rmb8bn ($1.2bn) two-tranche deal, its largest issuance so far, and received a big thumbs-up from investors.

A busy day for bond issuance from Chinese property companies offered investors a dash of variety, as investment grade rated China Jinmao Holdings Group vied for attention amid a slew of deals from high yield credits including Kaisa Group Holdings.

Nine Dragons Paper has moved a HK$3.9bn ($498m) loan into general syndication, giving a small group of banks two weeks to make a decision on the deal.

A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.

Chinese local government financing vehicle (LGFV) Tianjin Binhai New Area Construction & Investment Group Co’s decision to postpone a planned three year bond has highlighted the debt crisis in the Tianjin area.