China

In this round-up, Ping An Bank’s latest convertible bonds broke demand record, state-owned enterprises posted strong growth, and Traiana partnered with Hong Kong Exchange and Clearing to provide OTC clearing.

In this round-up, the People’s Bank of China launched the first targeted medium-term lending facility (TMLF), a central committee for deepening reform signed off on Shanghai tech board launch, and the central bank set up bills swap to support banks’ perpetual bonds.

Chinese drug developer Luye Pharma Group has closed a $300m loan after a five-month syndication.

Ping An Real Estate seeks $300m — ICTSI tests appetite for €260m — Huifeng Petrochemical debuts with $200m

China Evergrande Group raised $3bn with a tap of three of its existing bonds, but the issuance put a dent in its secondary curve as noteholders fled to the juicier new deal.

BAML brings in Australia ECM chief – Credit Suisse names Indonesia IB head – Goldman appoints TMT co-lead – Eastspring hires new CEO – BOC lends to Sri Lanka – FTSE Russell tracks Chinese green bonds

Profit Reach, an investment vehicle owned by Chinese billionaire Shen Guojun, is seeking a $550m refinancing loan with a rare put option provided to lenders. The deal has raised debate over whether the structure can catch on in Asia. Pan Yue reports.

Bank of China has received the green light to raise as much as Rmb40bn ($5.88bn) from a perpetual additional tier one bond in its domestic market, opening a new funding channel for Chinese banks. But although a flagship bank is leading the way, smaller institutions may find the perpetual format more compelling. Rebecca Feng reports.

Club-style Chinese deals were back this week as Peking University Founder Group Co raised $150m from a three year bond and Yankuang Group grabbed $215m.

China Evergrande Group hit its size goal of $3bn with a tap of three of its existing bonds, a strategic decision by the property developer. But the issuance dented its secondary curve as noteholders fled to the juicier new transaction.

Ping An Real Estate, a unit of Ping An Group, is returning to the loan market for an up to $300m borrowing after a two-year absence.

Far East Horizon has opened into syndication a $580m-equivalent three year term loan via six mandated lead arrangers and bookrunners.