China

Country Garden Services Holdings Company has raised HK$7.785bn ($1bn) from a placement of new shares, riding on strong investor interest in property management services companies over the past year.

Embattled Chinese borrower Tsinghua Unigroup Co missed payment on a $450m bond that was due on Thursday, with the non-payment expected to trigger cross-defaults on a number of its other dollar notes.

Chinese property management firm Sino-Ocean Service Holding has scooped up HK$1.74bn ($224.5m) after pricing its IPO below the mid-point of the marketed range.

Nio has launched a US follow-on offering that could raise up to $2.71bn, becoming the third Chinese electric vehicle (EV) maker to tap the equity market in less than two weeks.

GlobalCapital and Standard Chartered hosted a combination of virtual and in-person roundtable on the China high yield debt market at the end of November. The third part of a 2020 series followed the first roundtable in April and the second in July. This time around, leading experts came together to discuss the opportunities and outlook for the Mainland’s high yield bond market.

Lamberg heads to Taipei – Credit Suisse builds up China team – JPM hires from UBS

The Guangdong provincial government sold Rmb10bn ($1.5bn) of special purpose bonds this week, creating a new form of support for small and medium-sized banks. The proceeds will provide a crucial source of funding for the country’s many capital-starved regional lenders, but there are questions about how effective the scheme will be. Addison Gong reports.

China’s Xiaopeng Motors, an electric vehicle (EV) maker, leveraged on a big boost in interest in new energy stocks from investors to raise $2.16bn from a follow-on offering of its American Depositary Shares. Jonathan Breen reports.

Chinese detergent maker Blue Moon Group has raised HK$9.8bn ($1.27bn) from its Hong Kong IPO, which saw a strong turnout from global and local investors.

Two local government financing vehicles from Jinan, a city in China's Shandong province, hit the bond market on Wednesday. They raised $380m between them.

Two Chinese borrowers, Beijing Construction Engineering Group and CPI Ronghe Financial Leasing, have closed syndication for their loans.

CPI Ronghe Financial Leasing, a subsidiary of Chinese state-owned State Power Investment Corp, has increased its loan size to $250m.