Bonds

  • NDB finances emergency loan to China with Panda bond

    NDB finances emergency loan to China with Panda bond

    New Development Bank, a multilateral development bank established by the five BRICS countries, sold a Rmb5bn ($704m) three year Panda bond on Thursday. All proceeds will be used to fund an emergency loan NDB recently promised to three Chinese provincial governments to help them combat the Covid-19 outbreak. Rebecca Feng reports.

  • Chinese LGFV taps euro bond market

    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.

  • Tale of two bond markets: China onshore diverges as fears rise

    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.

  • Asian borrowers hit with downgrades as Covid-19 heightens refi pressure

    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.

  • Taizhou LGFV nabs $219m in quiet market

    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.

  • Xinhu Zhongbao seals $200m club-like deal

    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.

  • Chinese issuers need less comfort, more support

    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.

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