Banks

The Export-Import Bank of China raised €1bn from a three year bullet on Wednesday, bringing home more cash than expected thanks to overwhelming orders from eager investors.

HKEX makes several hires — JPM poaches Olympian from GS for Aus ECM — BOC’s Sebastian Ha resurfaces at Chinese rival

Chinese banks will sell at least Rmb240bn ($36bn) of tier two bonds in March, launching what bankers think will be a wall of supply.

Should bond investors be worried about Chinese local government financing vehicles (LGFVs)? After a recent default had almost no impact on the secondary or primary markets, most investors appear to have put aside their concerns. At least for now. Addison Gong reports.

China’s Hefei Guoxuan High-Tech Power Energy and Bank of Communications Financial Leasing are both raising dollar loans. But while Guoxuan is tapping offshore liquidity, Bocom Leasing is targeting onshore banks.

Ecom Agroindustrial Asia, the Singaporean business entity under Swiss commodities trader Ecom, has returned to the international loan market for its annual borrowing.

Sichuan Languang Development Co returned to the bond market on Wednesday with a $150m tap of an outstanding deal, bringing its 11% 2020 notes to a total size of $400m.

American International Group has raised HK$3.79bn ($482.3m) from the sale of its remaining stake in People’s Insurance Company Group of China (PICC), according to a term sheet seen by GlobalCapital Asia.

Paccar Financial has become the latest in a string of US issuers that have tapped the euro market over the past two weeks. The financing arm of the US maker of trucks and trailers has raised €300m via the sale of new 0.125% notes due in March 2022.

Galicia is set to become the latest Spanish autonomous community to return to the bond markets after many years of absence, after it mandated banks on Wednesday to sell a new issue. It could also come to the market for a second time later in the year.

Trumpf, a family-owned mechanical engineering company headquartered near Stuttgart, has launched a triple-tranche Schuldschein.

Export Development Canada made light work of its debut euro benchmark on Wednesday, with the deal heavily oversubscribed and printed 3bp tighter than price thoughts. While applauding the deal, some on-looking SSA bankers felt the level on offer might have been slightly generous — although they admitted that fair value is always fuzzy on an inaugural trade.