Banks

Spreads in the financial institutions bond market have tightened as investors pack their bags for the Christmas holiday period, but bankers warn that this does not necessarily reflect how conditions will look in the new year.

The covered bond market will enter 2020 on the front foot, supported by a wave of favourable forces such as the European Central Bank’s Asset Purchase Programme and low interest rates.

Chinese provincial lender Bank of Guizhou kicked off bookbuilding for its Hong Kong IPO on Monday, seeking HK$5.7bn ($736.8m) from the deal.

Powerlong Commercial Management Holdings launched the roadshow for its HK$1.5bn ($193m) IPO on Monday. The property management company is being spun off by Powerlong Real Estate Holdings.

French water and waste management and energy services company, Veolia Environnement, bagged Rmb1.5bn ($215m) from a private placement Panda bond issuance last Friday.

Singapore’s CapitaLand Commercial Trust dove into the yen market this month to sell its inaugural green bond.

Excellence Commercial Properties Co netted $100m from an offshore bond sale last Friday.

Allianz Real Estate and Gaw Capital Partners have secured a joint S$945m ($697m) green loan to support the acquisition of Duo Tower and Duo Galleria in Singapore.

GlobalCapital Asia spent the last two months talking to banks and their clients to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2019. We are pleased to begin our awards announcements in the loan market.

Ping An Group subsidiary OneConnect Financial Technology has raised $312m from a listing of American Depository Shares (ADS) after trimming and then increasing its IPO.

Chinese property developer Hydoo International Holding has priced new notes as part of an exchange offer, issuing $193.5m of two year bonds that include around $82m of new money.

Chinese residential developer Zensun Group bagged $120m from a tap of its debut bond on Thursday, launching the deal on the back of plenty of anchor support.