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GC Asia
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NDB readies Panda bond to fund emergency loan to China
New Development Bank, the Shanghai-based multilateral development bank, is planning to sell a Rmb5bn ($704m) Panda bond that will be used to provide an emergency loan to China.
07.45 AM -
Chinese LGFV taps euro bond market
Chinese local government financing vehicle Chenzhou Industry Investment Group sold a euro-denominated bond on Thursday, rounding out a week of club-like deals in Asia.
27 Mar 2020 -
Tale of two bond markets: China onshore diverges as fears rise
Chinese bond issuers are confronting a chaotic market at the moment: onshore yields for state-owned enterprises have fallen to historic lows, offshore yields have ballooned and more than 50 issuers have been forced to cancel deals this month. Rebecca Feng and Addison Gong report.
26 Mar 2020 -
Asian borrowers hit with downgrades as Covid-19 heightens refi pressure
International rating agencies have announced a slew of ratings downgrades or outlook changes for Asian companies as the Covid-19 outbreak puts pressure on their refinancing abilities. But DCM bankers and investors are expecting some good to come from these rapid changes. Morgan Davis reports.
26 Mar 2020 -
Taizhou LGFV nabs $219m in quiet market
Chinese local government financing vehicle Taizhou Xinbinjiang Development Co navigated the volatile markets by opting for a club-style $219m international bond issuance.
26 Mar 2020 -
ICBC preps dollar AT1 as peers stay onshore for capital
Industrial and Commercial Bank of China (ICBC) has received the nod to head offshore for capital, at a time when most of its peers have been tapping the liquid domestic market for funds.
25 Mar 2020 -
Xinhu Zhongbao seals $200m club-like deal
Chinese real estate developer Xinhu Zhongbao Co sold a club-style dollar bond on Tuesday, becoming one of the few Asian issuers to have come to the market in recent days. While a pipeline of deals builds up, many are unwilling to launch transactions amid the volatility.
25 Mar 2020 -
Chinese issuers need less comfort, more support
China’s top regulators went above and beyond expectations over the weekend in providing reassurance that the country’s markets are on solid footing. While this was helpful, more action to support companies falling through the cracks is sorely needed.
24 Mar 2020 -
Xiaomi gears up for debut private Panda offering
China’s Xiaomi Corp is planning to print a Rmb1bn ($141m) private placement Panda bond next week, in what will be the smartphone and appliances maker’s first outing in the onshore bond market.
24 Mar 2020 -
Chinese regulators downplay Covid-19’s financial impact
The top officials at various Chinese regulatory bodies made efforts over the weekend to calm nerves on default risks and fleeing foreign capital as they tame the spread of the Covid-19 coronavirus within the country.
23 Mar 2020
