Bonds

  • Kaisa taps for $200m

    Kaisa taps for $200m

    Kaisa Group Holdings paid a new issue concession of about 10bp for a $200m tap of one of its existing deals, appealing to investors amid recent pressure on Chinese bonds in the secondary market.

  • Meituan bags $10bn with mega CB-equity placement combo

    Meituan bags $10bn with mega CB-equity placement combo

    Food delivery giant Meituan has raised close to $10bn from an overnight sale of shares and convertible bonds, getting solid interest from investors and raising money to ramp up its investment into the technology part of its business.

  • It’s crunch time for Chinese SOE bonds

    It’s crunch time for Chinese SOE bonds

    The shock from this month’s stunning slump in China Huarong Asset Management Co's dollar bonds may have eased slightly, following a rally this week after supportive comments from the Chinese government. But the incident should trigger a more critical look at the risks and rewards of buying state-owned international bonds.

  • BMW opts for simple structure for new auto lease ABN

    BMW opts for simple structure for new auto lease ABN

    China-based Herald International Financial Leasing Co, a unit of BMW Group, has returned to the onshore securitization market. It switched to a straightforward two-tranche structure for the Rmb3bn ($461m) auto lease asset backed notes (ABN), pricing the senior tranche at a competitive spread.

  • Tencent nails $4.15bn bond

    Tencent nails $4.15bn bond

    Chinese technology giant Tencent Holdings raised $4.15bn from four tranches of long-dated bonds this week, overcoming weak market sentiment to push ahead with its deal.

  • CCB goes global for sustainability bonanza

    CCB goes global for sustainability bonanza

    China Construction Bank Corp turned to the bond market on Thursday to sell a $2.4bn equivalent multi-currency transaction, with each tranche carrying a socially responsible investment (SRI) label. But recent volatility in the region’s credit market, and the issuer’s own ‘ambiguous’ approach to the trade, posed challenges.

  • Dongfeng Peugeot drives into ABS market on sales rebound

    Dongfeng Peugeot drives into ABS market on sales rebound

    Dongfeng Peugeot Citroen Auto Finance Co made its first appearance in China’s auto loan ABS market since 2017 this week, sealing a Rmb2.201bn ($336m) deal amid rising demand for proprietary brand vehicles after a plunge in sales in recent years.

  • SLB fever sweeps FIG market after Berlin Hyp debut

    SLB fever sweeps FIG market after Berlin Hyp debut

    Banks are optimistic that sustainability-linked bonds have a bright future as part of their funding toolkits, after Berlin Hyp became the first financial institution to land a deal in the format this week. More trades are already on the way and market participants are stepping up their efforts to break down the remaining barriers for FIG borrowers.

  • China Huarong’s woes cause pain across Asia’s markets

    China Huarong’s woes cause pain across Asia’s markets

    Fears around the health of China Huarong Asset Management Co rattled investors this week and took a toll on Asia’s bond market. The bad debt manager’s dollar bonds have tumbled, bringing new issuance from China to a near halt and putting pressure on other state-linked credits in the secondary market. Morgan Davis reports.

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