China

In this round-up, China International Capital Corp plans to boost the size of its Shanghai IPO, the Hong Kong Monetary Authority plays down the impact of the national security law, and the People’s Bank of China revamps green criteria.

Chinese property developer Fantasia Holdings Group Co took advantage of the favourable market conditions on Thursday to raise money for refinancing. It found more support than anticipated, allowing it to seal a larger $350m bond.

Investors flocked to Huzhou City Investment Development Group Co’s $300m bond, leading to a surprisingly large final book, a hefty 65bp price tightening and a headache over allocation.

Ping An International Financial Leasing Co has returned for a $340m loan to meet its refinancing needs.

In this round-up, the already fraught relationship between the US and China faces fresh tests, as both countries continue announcing retaliatory measures against each other.

Sino Biopharmaceutical’s chief executive Tse Ping has sold a portion of his stake in the company for the second time this year, pocketing HK$3.15bn ($406.4m) but causing the stock price to tumble in the secondary market.

Ant Group is planning a dual listing in Hong Kong and Shanghai that will value the company at as much as $200bn. Bankers say the mega listing will be a ‘shot of adrenaline’ for the two stock exchanges, creating a surge of liquidity that will enable more companies to follow suit. Jonathan Breen reports.

Chinese auto rental company Car Inc’s stock price and outstanding bonds took a hit this week as two of its major shareholders struggled to offload the company’s shares. Addison Gong reports.

Singaporean commodities company Trafigura has returned to the loan market for its annual borrowing, seeking a $1bn-equivalent dual-currency deal.

GLP, a Singapore-headquartered global logistics facilities provider, sold a Rmb2bn ($286m) Panda bond on Wednesday. The company, once a frequent issuer in the onshore renminbi market, returned after a long absence.

Investors were unfazed by State Power Investment Corp’s (SPIC) move to tighten pricing on a $1bn bond by 52bp. The Chinese company’s deal was six times oversubscribed at its peak, and only tightened further in the secondary market.

ICBC International Holdings found a positive window to sell a five year bond on Tuesday, riding the uptick in market sentiment to price a $700m transaction inside fair value.