China

China Orient Asset Management International Holdings is deciding whether to increase the size of its $300m loan after attracting a blowout response in syndication.

Stock Connect investors are demanding a multi-broker delivery versus payment (DVP) solution to limit counterparty risk issues that have thrown up by the different settlement cycles, Cindy Chen, country head of securities services at Citi, told GlobalRMB. Brokers are lining up to the join platforms despite the competitive challenges.

Wednesday proved yet another robust day for Asian bonds, with rubber company Halcyon Agri Corporation, Industrial and Commercial Bank of China’ Singapore branch and Chinese developer Times Property Holdings out for funds in the primary market.

Embattled China Hongqiao Group’s banks have given it a reprieve from a credit crunch, after consenting to a covenant waiver on its $700m syndicated loan.

China Southern Power Grid Co. is preparing investors for its debut dollar, 144A/Reg S deal.

Chinese regulators are keeping a tight control on offshore bond flows this year, as issuers report a lengthy registration process and an inconsistent approach to approvals. With borrowers itching to go offshore before the market backdrop becomes unreceptive, China’s overbearing approach could very well backfire.

Minsheng Financial Leasing has closed its latest syndication on a high note, with the loan increased to $335m as banks gobbled up the deal.

China’s National Development and Reform Commission (NDRC) announced a second batch of 11 firms as part of a pilot programme, which allows firms to choose their funding windows in the international debt market without needing to seek the regulator’s blessing.

Maikun Investment Co, part of Beijing Automotive Group (BAIC), has switched the currency on its $290m financing to euros midway through syndication.

China’s economy grows faster than expected in the first quarter of 2017, the head of State Administration of Foreign Exchange (Safe) meets with the deputy governor of the World Bank, and Citic says demand for cross-border financing activity is on the rise.

Peer-to-peer lender China Rapid Finance has launched bookbuilding for its US listing, which could raise $115m, according to a termsheet seen by GlobalCapital Asia.

State Grid Corporation of China, China Huarong Asset Management Co and State Development & Investment Corporation have mandated banks for new bonds, with the latter making its debut in the international market.