Bank of China

Logicor’s dual tranche issuance received a mixed reception on Thursday, as the European real estate and logistics company reopened an old note and offered investors a new bond as well.

Mercedes-Benz Auto Finance pulled off its biggest auto loan ABS deal to date on Tuesday at its tightest price since 2017, despite a last minute regulatory probe into the originator. But the apparent success owed plenty to the lead underwriters’ co-ordinated efforts to keep the issuer happy and the primacy of credit ratings to international buyers, writes Rebecca Feng.

Ireland’s CDB Aviation has signed its first unsecured syndicated loan, as the aircraft leasing company continues its drive to diversify its funding sources.

BMW Group has debuted its first asset backed note (ABN) in China, bagging Rmb2.5bn ($387m) with a three tranche fixed rate deal through its majority-owned subsidiary, Herald International Financial Leasing.

Mercedes-Benz Auto Finance is on track to price its largest ABS trade under the Silver Arrow China series. The originator, having previously turned to Moody’s and Fitch for international ratings, switched to S&P and gained an AAA rating for its deal.

Two subsidiaries of Taiwan’s Formosa Plastics Corp are in the syndicated loan market raising a China onshore facility and an offshore deal respectively.

BMW Automotive Finance (China) is on track to launch its debut auto lease receivables-backed securitization. The company is expecting to close the Rmb2.5bn ($373m) Bavarian Sky China Leasing 2019-1 asset backed note later this week.

Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.

Three Chinese property companies battled in the primary market on Monday with competing supply. While high yield issuers have been able to sell bonds at ultra-tight prices of late, the weight of supply has started to force issuer’s to pay more to borrow.

CPI Property Group hit screens on Monday, announcing a call to promote a new subordinated euro bond.

China’s Jiuquan Iron & Steel (Group) Co, or Jisco for short, was able to find enough demand on Tuesday to cover its first international bond — a deal months in the making — raising $300m.

Sino Biopharmaceutical has increased its refinancing loan to $1bn after receiving a strong response during syndication.