China

Chinese developer Guorui Properties is on track to redeem a puttable dollar bond later this month after pricing a new $295m transaction, bringing an end to debt refinancing woes that have lasting for months.

Up Fintech, parent of online trading platform Tiger Brokers, has launched bookbuilding for a smaller-than-expected $91m IPO.

China’s industrial gas supplier Yingde Gases Group has launched a $300m borrowing into general syndication.

Fosun International has returned to the offshore loan market with a $300m dual-currency borrowing.

A week after BMW debuted in the Panda market with a Rmb3bn ($447m) three year private placement, its onshore financing arm, BMW Automotive Finance, returned to more familiar territory with a Rmb5.5bn auto loan ABS.

GLP has closed a Rmb3.3bn ($490m) nine year Panda bond, after scrapping an earlier plan to sell a dual-tranche deal.

Asia’s primary bond market has started the year with a bang. New dollar issuance has been steady, and issuers are getting increasingly confident in their ability to court investors with what can only be considered bull market deals. But the market isn’t strong enough to allow issuers to get away with such aggressive terms for long.

Chinese local government-owned power generator Chongqing Energy Investment Group Co wrapped up its inaugural offshore bond, finding enough demand to support an aggressive price tightening.

Shanghai Fudan-Zhangjian Bio-Pharmaceutical Co has become the first Hong Kong-listed company to announce that it wants to float on China’s hotly-anticipated technology board.

In this round-up, both exports and imports slowed in February, the US and China have not started preparing for a deal-signing summit and the People’s Bank of China (PBoC) has released its February financial data.

Hong Kong Exchanges and Clearing (HKEX) signed an agreement with MSCI on Monday to introduce a futures contract covering the MSCI China shares index.

Tesla has raised the equivalent of $521m from the loan market, helping fund its Shanghai factory.