Bank of China

The pre-summer rush for IPOs in Hong Kong is well underway with three companies starting investor education this week, even as stocks started Monday with a wobble.

Greentown Service Group is conducting investor education for its $150m-$200m IPO in Hong Kong until early next week.

MTR Corp has wrapped up its syndicated loan at a larger than expected HK$25bn ($3.22bn), after banks piled in and allowed the borrower to increase the facility from HK$15bn.

Frasers Centrepoint has priced its Singapore real estate investment trust IPO at the top of guidance, bagging S$903m ($666.5m) after investors came out in force at the top of the range.

A Bank of China index tracking the yield differential between onshore and offshore renminbi debt shows that dim sum bonds continue to look expensive for issuers although the gap is starting to shrink.

Tianjin Infrastructure Construction (TJII) has become latest Chinese local government financing vehicle to tap the international bond market, pricing a new $500m three year. Bankers on the deal were encouraged to see a Chinese LGFV trade resonate well with offshore investors who had previously remained on the sidelines.

Tianjin Infrastructure Construction (TJII), China State Construction Engineering Corporation Limited and ICBC’s Dubai branch are out in the dollar bond market on Tuesday with their respective fundraisings.

Frasers Centrepoint has covered its potential S$903m ($663.3m) Singapore real estate investment trust IPO after the first day of bookbuilding, according to a source close to the deal.

French textiles and apparel manufacturer Chargeurs has agreed its debut Euro PP — a €25m seven year deal — as well as a €32m bank facility.

Property developer Frasers Centrepoint has launched bookbuilding for the IPO of a Singapore real estate investment trust backed by its Australian properties, with the deal set to raise up to S$903m ($655.8m).

The popularity of China’s marquee technology firms is showing no signs of abating, with both Tencent Holdings and Baidu increasing the size of their borrowings following bumper responses.

Bank of China (BOC) and China Merchants Bank (CMB) have completed China’s first non-performing loan securitizations in more than eight years.