Bonds

  • Chinese pharma names flock to ECM market

    There was a burst of activity from Chinese pharmaceutical and biotechnology companies in the equity capital markets this week, as the sector took centre stage following the spread of a flu-like virus that has already claimed lives on the mainland. Jonathan Breen reports.

    • 23 Jan 2020
  • China cuts registration fees for domestic bonds

    China’s biggest clearing houses have slashed their fees for the registration of new bonds.

    • 23 Jan 2020
  • Sino Biopharm nets €750m from debut CB

    Sino Biopharmaceutical issued a zero coupon convertible bond on Wednesday, boosting the size to €750m as demand poured in from across Asia, Europe and the US, according to multiple sources close to the deal.

    • 23 Jan 2020
  • Evergrande floods market with $6bn of bonds

    Hengda Real Estate Group Co, a subsidiary of China Evergrande Group, raised $4bn across two tranches on Tuesday, just days after Evergrande nabbed $2bn from another bond sale.

    • 23 Jan 2020
  • Defaulted issuers return: CSRC queries Founder Securities, snubs Haikou Meilan

    The China Securities Regulatory Commission (CSRC) has asked questions about Founder Securities’ application to sell an onshore bond, but put a pause on approving a planned issuance by Haikou Meilan International Airport Co. Both Founder’s parent company and Meilan have missed bond payments in 2019.

    • 23 Jan 2020
  • Bond squeeze threatens risk-reward dynamics in senior bank paper

    Investors have been showing a clear preference for subordinated bank bonds in the primary market, with the valuations for more senior asset classes having been squeezed into extraordinarily tight levels in 2020.

    • 22 Jan 2020
  • Greater China issuers close out year of the pig

    Three companies from the Greater China region sealed bonds on Tuesday, likely to be the last batch of issuers to tap the debt market before the Chinese New Year break begins. No Asian borrowers launched dollar deals on Wednesday.

    • 22 Jan 2020
  • Pulled deals: a warning sign for Asian bonds

    The Asian bond market has been red hot since the start of 2020. With nearly every day bringing a number of blowout deals, it would be easy to overlook the three borrowers that have fallen short of completing their proposed transactions. But the failed deals may be a sign of things to come.

    • 21 Jan 2020
  • Investors pour into China property bonds

    All of the dollar debt issuance from Greater China on Monday came from real estate companies, with six borrowers taking about $1.4bn between them.

    • 21 Jan 2020
  • Sun Hung Kai jumps on strong market for tap

    Sun Hung Kai Properties took advantage of a favourable market backdrop and solid aftermarket performance of its latest dollar bond to return with a tap just four days after the original transaction was priced.

    • 20 Jan 2020