China

Chinese real estate developers Sunac China Holdings and Yango Group returned to the offshore market on Tuesday, with the former raising a larger-than-expected $600m. Property and construction firm Jiangsu Zhongnan Construction Group Co also priced its maiden dollar bond.

The People’s Bank of China (PBoC) will issue another round of offshore renminbi (CNH) bills through the Hong Kong Monetary Authority Central Moneymarkets Unit in the second half of June, timing the issuance for when the renminbi might become volatile due to the G20 meeting.

Chinese brokerage Huatai Securities has received one of two approvals needed to spin off its subsidiary AssetMark Financial Holdings in the US.

Huatai Securities, the Chinese brokerage, has set the price range for its $1.65bn sale of global depositary receipts on the London Stock Exchange, enticing investors with a healthy discount to the Shanghai-listed A shares.

Hutchison China MediTech (Chi-Med) is looking to launch bookbuilding for its Hong Kong listing as early as June 21 for proceeds of around $600m, according to a source close to the deal.

The Chinese state council introduced new measures governing the proceeds of local government special-purpose bonds on Monday. Some of the proceeds can now be counted as project capital — which bankers said would make it easier for infrastructure projects to secure loans.

Inalfa Roof Systems Group, a Netherlands-based car roof system supplier owned by Beijing Hainachuan Automotive Parts, is tapping Asian liquidity for a €200m loan.

Guangzhou R&F Properties Co was back in the dollar market on Monday, tapping its 8.125% 2023 bond at a generous premium in what was its fifth offshore outing this year.

Chinese healthcare company Jinxin Fertility Group has kicked off a week-long roadshow for its Hong Kong IPO, looking to raise up to HK$2.99bn ($381.4m) from the deal, said a source close to the situation.

BNP Paribas has promoted Paul Yang, the current head of Greater China, to be head of corporate and institutional banking (CIB) for Asia Pacific, according to sources.

China General Nuclear Power Group is tapping the international loan market for a $500m deal after an absence of almost 30 years.

A unit of China National Chemical Corp (ChemChina) has returned to the loan market for a two-tranche borrowing of €550m.