DBS

Two Chinese banks sold dual tranche floating rate dollar bonds this week, taking advantage of the market’s enthusiasm to raise a combined $1.8bn. But the eagerness for the format appears to be waning.

Qinghai Provincial Investment Group made a quick return to the bond market this week, giving investors an opportunity to top up their exposure five months after making its debut.

Hindustan Petroleum Corp (HPCL) opened books for its debut dollar transaction on Wednesday morning, and is looking for a 10 year bullet.

Metallurgical Corporation of China (MCC), China National Chemical Corporation and Thailand’s PTT Exploration and Production are out in the market, gauging appetite for their respective bonds.

Guangdong Hengjian Investment Holding raised $500m from its debut bond on Monday on the back of nearly six times demand. The issuer priced the notes inside its comparables, a feat possible thanks to its status as a provincial-level state-owned enterprise and a quiet primary market.

Bank of China Hong Kong became the latest bank to join a rush of floating rate issuance on Monday, closing a dual-tranche deal.

Mainland firm Hebei Construction Group is vying for approval to list in Hong Kong, filing a draft prospectus with the city’s exchange.

State-owned enterprise Qinghai Provincial Investment Group Co is making a rapid return to the international debt market, launching a new dollar bond on Tuesday about four months after its debut.

China’s ZhongAn Online Property and Casualty Insurance Co has taken a formal step towards listing in Hong Kong, filing a draft prospectus for an IPO that could raise at least $1bn, according to bankers familiar with the matter.

Guangdong Hengjian Investment Holding is marketing its debut dollar bond while Bank of China's Hong Kong branch is taking bids for a dual tranche floating rate transaction.

The launch of a S$2.7bn ($1.95bn) IPO by NetLink Trust this week marks an important turning point in the fortunes of Singapore’s quiet equity capital market, with bankers hoping that more issuers may be tempted to take the plunge in the second half of 2017, write Aidan Gregory and Jonathan Breen.

CDL Hospitality Trusts, a Singaporean real estate investment trust focusing on the hospitality sector, has kicked off a S$255.4m ($184m) rights issue to reduce leverage after announcing the purchase of the Pullman Hotel in Munich for €98.9m.