China

China Jinmao Holdings Group returned to the market on Thursday with a tap to a bond it sold in June, hoping to reach its regulatory cap of $500m.

The 144A bond market used to offer the cream of Asian issuers access to a liquid, savvy investor base. But although the market remains relevant for Asian banks and corporations, many are increasingly deciding that regional demand is more than good enough. Addison Gong reports.

Dongfeng Peugeot Citroën Auto Finance sealed a single tranche Rmb3bn ($451m) ABS deal on August 22, just five days after Bond Connect investors tapped the asset class for the first time. But the originator showed little interest in seducing the newcomers and stuck with the local investor base instead.

China Great Wall Asset Management attempted to reopen the Asian dollar debt market on Thursday with a triple tranche offering after a typhoon shutdown the market on Wednesday.

The arrival of Typhoon Hato in Hong Kong on Wednesday suspended equity trading in the city, but the impact on the offshore RMB market was limited.

The debt capital markets in Asia remained quiet on Wednesday, as typhoon Hato hit Hong Kong, cancelling stock trading in the morning. A single Chinese firm, Muyuan Foods Co, announced its plan to go offshore for funding in the morning.

Hisense (Hong Kong) Co, a unit of electronic goods maker Hisense Co, has rolled out its maiden offshore syndicated loan with two mandated lead arrangers and bookrunners.

Black Peony (Group) Co is eyeing the international debt capital markets, having just received approval from its board to issue as much as $100m of foreign currency bonds.

The Chinese arm of Scotland-based Aberdeen Standard Investments announced the appointment of a general manager for its wholly foreign-owned enterprise, the firm said on August 22.

Chinese property developer Greenland Holdings, which printed an offshore bond earlier this month, has allocated its latest syndicated loan at a larger-than-launch size of $315m.

China Great Wall Asset Management Co has mandated a whopping 20 banks for its next dollar bond, and is planning to meet Hong Kong investors on Tuesday.

Ford Automotive Finance (China) has pulled off an impressive return to China’s auto ABS market. The company raised an eye-catching Rmb3.46bn ($518.4m) from its latest deal — and brought in the first crop of foreign investors tapping Chinese ABS through Bond Connect.