Bank of China
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Two Chinese local government financing vehicles (LGFVs) had contrasting responses to their dollar bonds on Monday. While a borrower from Tianjin pulled off its deal with enough anchor support, a Gansu province issuer faced some hiccups around pricing. -
Australian coal producer Yancoal has begun bookbuilding for its HK$1.54bn ($196.88m) dual listing on the Hong Kong stock exchange, offering its stock at a considerable premium to its domestically traded shares.
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Bank of China sold green bonds denominated in yen and offshore renminbi (CNH) last week, ending its long absence in the Japanese market.
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A number of sub-investment grade rated property developers and local government financing vehicles (LGFVs) used private-style executions for their public transactions this week — an increasingly popular approach among Chinese bond issuers.
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Sands China has closed a $2bn five year borrowing with participation from around 10 banks.
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BMW Automotive Finance will open books for its second auto loan ABS of the year on November 27, another three-trancher worth Rmb4.5bn ($648m).
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German automaker Mercedes-Benz raised Rmb8bn ($1.15bn) from an auto loan ABS this week, slashing its funding cost just three months after its last foray into the market.
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Agricultural Development Bank of China (ADBC) has dipped into the euro market for the first time to diversify its investor base, despite having no real need for the currency and having to pay up for the fundraising.
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Belarus is working to issue its first sovereign Panda bond, GlobalRMB understands.
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A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.
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Beijing Enterprises Group and Youyuan International Holdings hit the loan market this week for their latest syndicated fundraisings.
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Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.
