China

China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after 15 years away. The bond is expected to encourage Chinese issuers from across the credit spectrum to tap the euro market, writes Addison Gong.

Guangzhou Metro Group Co raised $200m from a popular return to the dollar bond market on Wednesday, while two of its Chinese local government financing vehicle (LGFV) peers made their offshore debuts.

Haitong International Securities Group raised $400m from the bond market this week, selling a deal inside fair value after a larger-than-expected price tightening.

Volkswagen Finance (China) will come back to the Chinese auto loan ABS market after a two-year break on November 13. The Beijing-based originator is offering a Rmb5.97bn ($851m) dual-tranche note equipped with two international ratings.

Dongfeng Nissan Auto Finance bagged Rmb6.5bn ($920m) from its third auto loan ABS trade of the year on Wednesday. Despite being the largest ABS trade the originator has done, the four tranche deal was well covered.

China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after a 15 year layoff. Bankers think the deal will encourage Chinese issuers from across the credit spectrum to come to the euro market.

YX Asset Recovery, a Chinese consumer debt restructuring specialist, has started gauging investor appetite for an IPO of around $200m on the The New York Stock Exchange.

Kaisa Group Holdings and Greenland Holding Group Co joined a slew of Chinese real estate companies to rush to the offshore market this week, using up the remainder of their regulatory quotas.

Biopharmaceutical firm SinoMab BioScience has priced its Hong Kong listing at the bottom of guidance to raise HK$1.4bn ($178.6m), finding support from global long-only funds on the last day of bookbuilding.

Cigarette packaging printer Amvig Holdings has returned to the loan market for a HK$1.15bn ($147m) one year facility to refinance a 2017 borrowing.

Hong Kong-listed United Laboratories International Holdings has increased its borrowing to HK$1.8bn ($230m) after attracting six participants during syndication.

SAIC-GMAC and Beijing Hyundai Auto Finance are both planning their returns to the auto loan ABS market next week.