China

Car Inc is seeking a new loan after an absence of five years from the market, but it will have to navigate the fallout from Luckin Coffee’s past governance concerns and the latest crackdown by China on technology companies to get its deal across the finish line. Pan Yue reports.

Chongqing Pharmaceutical (Group) Co is making its debut in the loan market for $150m. It is set to directly compete against a larger Chinese state-owned peer that is also testing lenders’ appetite for a new fundraising.

The bonds and shares of China Evergrande Group and its subsidiaries continued to slide on Tuesday, after revelations of a dispute with a domestic lender triggered a widespread sell-off at the start of the week.

Anton Oilfield Services Group sold a $150m bond this week in an effort to tackle its debt maturity profile.

Three Chinese real estate developers sold green and sustainable bonds on Monday, adding further momentum to the booming asset class.

ICBC International Holdings priced a three year bond on Monday with the support of a 22-member syndicate team.

China Lesso Group, a building materials manufacturer, has mandated five banks for a new money loan, returning to the market after two years.

In this round-up, the Chinese central bank releases the first white paper for its digital currency, regulators led by the Cyberspace Administration of China conduct an on-site inspection at Didi Chuxing Technology, and the takeover period of nine financial firms linked to beleaguered conglomerate Tomorrow Holding has been extended.

In this round-up, China’s economic growth slows in the second quarter, Beijing launches the world’s largest carbon emission trading scheme, and the top market regulator approves Tencent Holdings’ plan to take US-listed search engine Sogou private.

Five real estate companies from Greater China made their way into the dollar bond market on Thursday, appealing to investors with short tenors and juicy new issue premiums.

Beijing Enterprises Water Group sold two Panda bonds in China’s exchange market this week, raising Rmb2bn ($309m).

China’s Sichuan Languang Development Co has become the latest property developer to default on a domestic public bond, failing to repay a Rmb900m ($139m) medium term note this week. More defaults from the company are likely, writes Addison Gong.