GC Asia
Bonds
-
Bonds news in brief: Evergrande, ZhengTong Auto, LGFVs raise funds
Four Chinese borrowers hit the dollar bond market on Thursday, competing with supply from India, Indonesia and the Philippines.
-
China opens up exchange bond market further to banks
The majority of the banks in China, as well as foreign banks, can now trade bonds listed on the Shanghai and Shenzhen stock exchanges, according to new guidelines published on Wednesday. But the appeal of this option remains questionable.
-
Anta Sports defies short seller shadow with €1bn CB
Anta Sports Products made a stellar euro equity-linked debut this week, sealing a €1bn zero-coupon convertible bond at a negative yield. The deal had its share of challenges, but showed what is possible in a market that has seen a change in sentiment recently. Jonathan Breen reports.
-
BoCom puts more weight on dollars in new triple-trancher
China’s Bank of Communications came out with a $1.95bn-equivalent three-tranche deal on Thursday. It opted for a bigger dollar portion and a slimmer offshore renminbi (CNH) bond, compared with its last outing.
-
Property companies build on bond momentum
Three Chinese real estate companies raised $850m between them from the dollar debt market on Wednesday.
-
Bond flurry continues but Vietnamese bank falls short
The overwhelming supply of international bonds from Asia continued on Tuesday, as issuers dashed to raise dollars, and in one case, sterling. But not every borrower was able to cross the finish line.
-
Anta Sports jumps over hurdles for €1bn CB
Anta Sports Products, a Chinese sportswear manufacturer and retailer, had to navigate a number of roadblocks to print a €1bn zero coupon convertible bond to refinance loans in the currency.
-
China government debt set to hit new high after record 2019
China’s government debt last year grew at its fastest pace annually since 2009, while central and local government borrowing shows no signs of slowing.
-
Safe eases onshore FX derivs hedging for foreign investors
The State Administration of Foreign Exchange (Safe) will allow foreign investors to participate directly in the interbank FX derivatives market so they can hedge their foreign exchange risks from investing in onshore renminbi bonds, according to a Monday notice.
-
Greater China issuers flood market with dollar bonds
Seven borrowers from Greater China raised about $2bn from new dollar bonds on Monday, while Hong Kong's Cathay Pacific tapped the Singapore dollar market.
