Bank of China

UK property company Hammerson has signed a new £1.5bn three year revolving credit facility, bringing in a dozen banks for a financing aimed at slashing the funding costs of its acquisition target, Intu.

China Eastern Airlines Corp has raised ¥50bn ($468m) in Tokyo’s Pro-Bond market, breaking new ground in Japan with a standby letter of credit (SBLC) structure. Some bankers reckon the deal could be the first of many to come.

Taizhou Huaxin Pharmaceutical Investment Co executed a club-style deal on Thursday, raising $150m from a three year bond. It wasn’t the only Chinese firm wooing the buy-side. State-owned Tewoo Group opted for a perpetual deal, while Shimao Property Holdings tapped the offshore renminbi (CNH) market for the first time.

Zhejiang Hengyi Group Co, a Chinese petrochemical company, was the second issuer to fall short in the international debt market this week, pulling its planned debut dollar bond on Thursday.

China National Chemical Corp (ChemChina) enlisted the help of 18 lead managers to sell a six tranche bond in two currencies on Wednesday.

Chinese outlet mall trust Sasseur Reit has kicked off a fixed price bookbuilding for its S$396m ($301.3m) Singapore IPO, placing nearly half the deal with cornerstone investors.

Power Construction Corporation of China (PowerChina) sealed a two times covered senior perpetual bond on Tuesday, despite overall weak sentiment for such notes in a rising rate environment.

China Minsheng Banking Corp’s Hong Kong branch has raised $1bn from a dual-tranche transaction. While the fixed rate portion was supported by Mainland banks, demand for the floating rate note (FRN) was yet another testimony of the market’s deep interest in the format.

China Resources Land is lining up the Panda bond market’s first deal after the Chinese New Year holiday. The Rmb6bn ($946.6m) three year bond, the biggest offer in the asset class in six months, may kick start a streak of onshore transactions, said onshore DCM bankers.

Saudi Arabia has increased its loan from $10bn to $16bn as banks line up to join the facility, according to a statement from its Debt Management Office (DMO).

Bank of China joined its Chinese peers to sell floating rate notes (FRNs) offshore, while Fantasia Holdings Group Co added to the momentum in the high beta property sector. The two finished off an incredible week for both financial and corporate borrowers from the Mainland.

The first of Hong Kong’s post-Lunar New Year IPOs got going this week. China Boqi Environmental Holdings hit screens with a HK$908m ($116m) transaction.