DBS

Following nearly a year of waiting, red chip company Shenzhen International Holdings is finally gearing up for its Panda bond debut on the Shenzhen Stock Exchange. But the issuer appears to be cautious in its first outing, targeting only Rmb300m ($46.6m).

Guangxi Financial Investment Group Co raised $500m from its debut on Monday — a rather large amount for a sub-investment grade government-owned Chinese credit. But the deal was priced in line with comparables, despite bankers and some accounts viewing the credit differently.

Three Chinese issuers are seeking fresh funding from the dollar bond market on Tuesday, with one wooing accounts for a comeback deal and the other two making their debuts.

India's Tata Steel has lined up a group of 21 lenders for an up to $2.16bn six year loan, which will be launched into primary syndication in a couple of weeks, said bankers close to the deal.

Chinese issuers Peking University Founder Group, Bank of Communications Financial Leasing Co, Geely Automobile Holdings and Jinjiang International Holding are meeting investors this week ahead of planned dollar and euro bond sales.

Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.

Two issuers from the Guangxi province of China, Guangxi Financial Investment Group Co and Guangxi Communications Investment Group Corp, are hitting the dollar bond market for funds.

Three Chinese property companies, Jiayuan International Group, Golden Wheel Tiandi Holdings Company and SEA Holdings, have managed to meet their respective funding targets despite hitting the dollar bond market on a crowded day.

A slew of Chinese issuers are wooing dollar bond investors on Thursday, as Philippine company Petron Corp also competes for buy-side attention.

Chinese issuers BOSC International, a local government financing vehicle from Henan, Lai Fung Holdings and Hilong Holding are in the market with new deals on a busy day for issuance.

Country Garden Holdings Company (CoGard) and SEA Holdings are planning their comebacks to the offshore debt market, while Wharf Real Estate Investment Co is set to test its luck with accounts for the first time.

The response to Tata Motors' £640m ($839m) refinancing has been phenomenal, with the loan generating commitments exceeding $1bn, said bankers close to the situation.