China

A handful of borrowers have been forced to close smaller loans than expected recently amid waning interest from lenders. While bankers insist there is still plenty of liquidity, debut credits and infrequent borrowers are feeling the pinch in the pandemic. Pan Yue reports.

Bank of Communications Co raised $2.8bn from a Basel III-compliant additional tier one (AT1) capital bond on Wednesday, introducing a new perpetual bond format for Chinese banks.

A flurry of Chinese corporations rushed to the dollar bond market on Wednesday, raising a total of $1.19bn between them.

Jinke Smart Services Group, a Chinese property manager, raised HK$5.94bn ($766.1m) this week after sealing its IPO at the mid-point of the marketed range.

Volkswagen Finance (China) priced a nearly Rmb8bn ($1.2bn) auto loan asset-backed securities deal this week, the eleventh in its Driver China series.

Dollar and renminbi denominated bonds of cash-strapped Chinese issuer Tsinghua Unigroup Co were heavily sold off this week, following renewed concerns over the company’s debt repayment ability.

Redco Properties Group has tackled some of its upcoming maturities by selling a new $266m bond to refinance debt.

Wind power giant China Longyuan Power Group Corp found overwhelming support for its $300m bond sale, with investors giving the firm’s state ownership, deal timing and sector of operation a big thumbs up.

The two largest shareholders in Chinese clothes maker Shenzhou International Group Holdings have raised a combined HK$5bn ($644.9m) from a block trade.

A block trade in Shenzhou International Group Holdings was launched on Tuesday evening. The deal could net up to HK$5.1bn ($659.3m), according to a term sheet seen by GlobalCapital Asia.

Ant Group’s IPO suspension was a big blow to many: the fintech firm itself, the banks that worked on the huge transaction, and the investors that were salivating to get a piece of the stock. It was also a big setback for the Hong Kong Stock Exchange's reputation as an independent and attractive listing destination.

Three Chinese property companies launched dollar bonds on Monday, continuing to take advantage of the post-US election momentum.