China

Two Chinese real estate companies sold sub-one year bonds on Thursday, raising $350m between them.

Institutional and retail investors were in hot pursuit of China’s first nine infrastructure real estate investment trust (Reits) this week, as Beijing begins to develop the trillion-renminbi market.

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Angelalign Technology, a Chinese dental care company, hit the market on Thursday with an IPO of up to HK$2.91bn ($375.3m).

E-House (China) Enterprise Holdings tapped its 7.6% 2023 bonds for an additional $100m on Wednesday, bringing the total deal size to $300m.

An unnamed shareholder has raised HK$2.65bn ($341m) from a sale of shares in Evergrande Property Services Group, sending the stock into a downward spiral on Wednesday.

Aluminium producer China Hongqiao Group has raised $500m from a bond that appealed to investors for its ‘surprisingly generous’ premium on offer.

Medical device maker MicroPort Scientific Corp has made its first visit to the equity-linked market, raising $700m from convertible bonds. A recent rally in the Hong Kong-listed issuer's share price meant it had to assuage price-sensitive investors, but still ended up seeing strong support for its deal.

Zhenro Properties Group visited the offshore bond market for the fourth time in 2021 this week, adding another $340m to its coffers.

China State Construction International Holdings (CSCI) sold a subordinated perpetual bond worth $500m this week.

UBS has hired a new co-head of equity capital markets for Asia, with Zili Guo returning to the bank after five years.

Banks launched the first leg of the buyout package for Hillhouse Capital’s purchase of Philips Domestic Appliances on Tuesday, readying an €850m seven year term loan, with bonds to follow.