China

Chinese property developers China South City Holdings and Kaisa Group Holdings offered generous premiums for their bond outings this week in a bid to ensure strong aftermarket performance.

China Merchants Bank (CMB) sold its first green bond on Wednesday, taking $800m on the back of support from sustainability-focused investors.

Singapore’s DBS has become the latest foreign bank to receive approval for a majority-owned securities joint venture (JV) in China, as the country continues to open up its financial markets.

Industrial and Commercial Bank of China used its Singapore arm to raise more than planned from a dual-tranche bond on Tuesday, taking a total of $1.8bn after tightening pricing by 40bp on both portions.

WuXi Biologics Holdings has raised HK$6.1bn ($787.5m) after selling a block of shares in WuXi Biologics (Cayman), the fourth time it has trimmed its position in the company this year.

Mercedes-Benz Auto Finance is planning to sell a Rmb6.26bn ($917m) dual tranche auto securitization transaction next week after a six-month break from the onshore market. The issuer has doubled the length of the revolving period compared to its previous outing.

Fujian Yango Group Co enticed investors with a yield of more than 12% for its new $200m bond on Tuesday.

The Asian Infrastructure Investment Bank (AIIB) has appointed a chief economist for the first time, picking Erik Berglof to head its economics department.

Bankers in China have raised concerns around regulating Ant Group, which is gearing up for a mammoth dual listing in Hong Kong and the Star board. Although the Alibaba Group Holding-backed firm calls itself a technology company, a big chunk of its revenues come from the financial sector — creating headaches due to the absence of a cohesive regulatory framework for such companies.

Chinese smart electric vehicle maker Nio has raised $1.5bn in fresh equity after increasing its follow-on offering of American Depository Shares (ADS).

Property manager China Resources Mixc Lifestyle Services is planning an IPO on Hong Kong’s stock exchange, getting the ball rolling with an application to the bourse this week.

Modern Land (China) Co received an 18 times oversubscribed book for a $100m tap of two of its green bonds, as investors threw their weight behind the Chinese property developer’s deal.