China

China State Shipbuilding Corp (CSSC) jumped into the busy market on Wednesday, grabbing more than $835m from a dollar/euro dual-tranche transaction.

Chinese hotpot chain Haidilao International Holding pulled off top-end pricing for its HK$7.56bn ($963.3m) Hong Kong IPO this week, wooing institutions with its unique story. But the lukewarm response from retail investors is being viewed as a blessing in disguise for allocations — and hopefully for the stock’s aftermarket performance. Jonathan Breen reports.

Chinese policy bank Agricultural Development Bank of China made its first foray into the dollar bond market on a busy Wednesday to raise $700m, alongside a Rmb1.2bn ($175m) return to offshore renminbi.

Four Chinese high yield issuers sealed bonds on Wednesday, when a total of nine deals were priced in the primary market in Asia ex-Japan, making it the busiest day in the region in months.

Chinese property companies that have been relying heavily on the country’s banks for their offshore loans should beware. The mainland bank lending tap may not be open for too long.

Chinese company Tewoo Group Co took the unexpected decision of pulling its bond outing this week after concerns around indebted firms from Tianjin spooked investors, making them question the credentials of a deal from the city. Morgan Davis reports.

China National Building Material (CNBM) is considering changing the guarantor of its $160m debut offshore borrowing in a bid to cut pricing.

China Merchants Bank Co Hong Kong branch has sold a dual-tranche transaction worth $800m, tapping into both the fixed rate and floating rate investor bases.

Two state-owned companies from Shenzhen and Sichuan managed to woo investors to their dollar bonds on Tuesday, thanks in part to the strong credentials of their respective provinces.

BMW Automotive Finance (China) Co priced a Rmb4.5bn ($656m) Bavarian Sky China 2018-1 securitization this week, its largest China auto ABS deal to date.

Dexin China Holdings, a Mainland property developer, has applied to list in Hong Kong through CCB International as sole sponsor.

WuXi AppTec has filed for a possible $1.9bn dual listing in Hong Kong after making a splash with its Shanghai IPO in May.