China

Chinese real estate company Kaisa Group Holdings chose to go down the 144A route for its latest bond, raising $400m from a deal that hit the higher end of its size expectations. But bankers say it is unlikely many issuers will follow suit. Addison Gong reports.

Chinese central government-owned China National Travel Service Group Corp (CNTS) made a quick return to the dollar bond market this week, extending its maturity profile with a $600m dual-tranche transaction.

India's Vedanta, Syndicate Bank make loan comeback — Shanghai Sinnoil defaults on $400m loan — Fullerton allocates $250m among 17 banks — Lesso closes $1.1bn refi — Indorent holds non-deal roadshows

Ma Jun, a green activist who also sits on the monetary policy committee of the Chinese central bank, tells GlobalMarkets that multilateral development banks need to focus on risk mitigation, reduce the risk of default on demonstration projects and help local banks deliver more lending if they want to deliver on financing green infrastructure

Heavy debt burdens are forcing African countries to either renegotiate loan terms with China, or ask for debt forgiveness, with some blaming China’s lack of attention to debt sustainability.

China’s Greater Bay Area has become a focus area for bankers, corporations and regulators. Ma Jun, one of China’s most prominent experts on green financing, thinks it could also become a green hub.

Chinese real estate company Kaisa Group Holdings chose to go down the 144A route for its latest bond, raising $400m from a deal that hit the higher end of its size expectations.

China Construction Bank returned to the international bond market on Tuesday, turning to dollar and euro investors with two separately-executed deals worth a combined $1.551 billion.

Chinese online education platform Youdao has launched bookbuilding for its New York Stock Exchange listing, eyeing up to $100.8m from the deal.

Genius Auto Finance will come back to the Chinese auto loan ABS market for a Rmb4bn ($564m) trade next week. That is the same size as its last deal, but the originator will scrap the mezzanine tranche this time around.

China Lesso Group has increased a four year borrowing to around $1.1bn, after attracting 16 lenders during syndication.

High yield issuer Kunming Municipal Urban Construction Investment & Development Co priced its inaugural dollar bond on Monday, raising $300m at a yield that was comparable to some higher rated local government financing vehicles (LGFVs).