Goldman Sachs

China Overseas Land and Investment (COLI) defied the headwinds buffeting the Chinese property sector to execute a dual tranche transaction on Wednesday night. The investment grade real estate developer was able to raise $1bn, but it had to pay a 20bp new issue premium.

WH Group's ill-starred attempt at an IPO finally came to a crunching halt on Tuesday night, as the issuer pulled the plug on its HK$14.6bn ($1.9bn) deal, blaming market conditions. Despite the high profile of the deal, bankers are confident that the pipeline can withstand the failure. But that did not stop a furious debate as to why the deal had collapsed.

WH Group delayed, restructured and shrank what would have been a $6bn IPO this week, after revelations about corporate governance gave investors qualms. The situation was undoubtedly made worse, however, by the issuer's decision to use a 29 bookrunner syndicate — a record for a Hong Kong IPO.

Tencent printed the largest ever dollar bond for an Asian technology company on Tuesday night, and the $2.5bn three and five year dual tranche transaction was more than five times subscribed. A ratings upgrade since its last outing ensured the issuer received a good response from the US and allowed it to price comfortably inside its curve.

China National Offshore Oil Corporation printed a $4bn triple-tranche bond on Wednesday night with investors flocking to the 10 year portion, which attracted a $9.4bn final order book.

Sinochem Hong Kong on Tuesday priced a $500m five year bond inside its existing curve, thanks to a trio of ratings upgrades which enabled the borrower to attract a high quality order book with a strong following by US accounts.

Sinochem Hong Kong priced a $500m five year bond inside its existing curve on Tuesday night. The transaction came on the back of a trio of ratings upgrades for the issuer and was able to attract a high quality orderbook with a strong following by US accounts.

China National Overseas Oil Corporation opened the books for a three tranche transaction on Wednesday morning as the issuer embarks on its annual bond fundraising, joining a number of other Chinese state owned enterprises that have come to the market in recent weeks.

Korea Expressway Corporation is back in the market with a three year transaction on Tuesday as Korean credits come out in force with mandates and new issues.

Chinese technology firm Tencent launched its first dual tranche transaction on Tuesday morning. The issue follows the establishment of a new $5bn GMTN programme by the issuer last month and is likely to raise more than $1bn sets its sights on the US investor base.

State Grid Corp of China will meet with investors next week, as it looks to make a return to the dollar market following its last deal, a $2bn triple trancher in May 2013.

KT Corporation made a solid landing with its first fixed rate dual tranche transaction on Tuesday night. The issuer printed $1bn and was able to price inside its existing curve despite a less than ideal market backdrop.