China

Hong Kong-listed China SCE Property has completed a $400m fundraising via four mandated lead arrangers and bookrunners.

Standard & Poor’s has put the credit rating of Chinese mall developer Renhe Commercial Holdings on negative watch after one of the company's subsidiaries breached covenants on a syndicated loan. The breach could prompt banks to demand an early repayment, which the firm might find tough to meet.

Equity markets had an inauspicious start to 2016, as China triggered yet another global sell-off and a new circuit breaker only added to the volatility. Monday was officially the worst-ever start for Chinese shares, but market participants shouldn’t read too much into the turbulence.

A $300m borrowing for Iris World Enterprises, an affiliate of Taiwan's Foxconn Technology Group, has been signed among eight lenders less than a month after launching into syndication.

The sell-off in the A-share market on January 4 might well scare off Hong Kong investors from buying Chinese securities via the new Mutual Recognition of Funds (MRF) scheme, but retail investors in China might now have increased appetite for offshore investments available via the MRF’s southern channel, according to market participants.

Any hopes among European credit traders of easing back into 2016 with a peaceful first week were shattered from the outset on Monday, as spreads gapped wider due to China’s stock market woes and oil price volatility arising from Saudi Arabia’s new stand-off with Iran.

A much-touted circuit breaker meant to curb wild swings in China’s A-share market was triggered on Monday, as a sharp sell-down set off an exchange-wide trading suspension.

Allocations for a $300m financing for Beijing Enterprises Water Group have been revealed with commitments coming in from 13 lenders.

Chongqing Red Dragonfly Oil is seeking an onshore loan of up to $200m as it looks to forge relationships with foreign lenders in mainland China.

Asia’s debt capital market is set for a busy start to the year with both repeat and debut issuers looking to sell dollar offerings as early as this week.

The People’s Bank of China (PBoC) has doubled the trading hours of the onshore foreign exchange market, the central bank said on December 23.

Hong Kong-listed Redco Properties Group has completed a consent solicitation to modify terms and conditions of its outstanding dollar bond in a bid to have more flexibility to pursue business opportunities.