Greater China

Orient Overseas (International) has scooped up HK$932.5m ($120.3m) from a top-up placement, increasing the deal on strong anchor investor demand. Two other Hong Kong-listed companies, both from the healthcare sector, also turned to investors on Thursday.

The Asian Development Bank (ADB) has hired banks to arrange a roadshow for its first Panda bond in over a decade, to be launched after Chinese New Year.

Qatar National Bank, a frequent issuer in the offshore renminbi bond market, has sold its first deal of the year in the currency, raising Rmb1.5bn ($232m).

In this round-up, China imposes sanctions on 28 US government officials who were part of the Donald Trump administration, the central bank increases oversight of non-bank payment firms, and profit growth at central government-owned enterprises suffers from the Covid-19 pandemic.

Chinese property developer Sunac China Holdings has managed to reprice its secondary curve by raising $1.1bn from tightly priced bonds.

Standard Chartered and United Overseas Bank have provided a HK$5.29bn ($682m) green loan to support a Gaw Capital Partners-led consortium’s acquisition of Cityplaza One.

Chinese vape company RLX Technology raised $1.4bn from its US listing this week, pricing the deal above the marketed range after a huge turnout from investors.

Chinese car manufacturer BYD has closed Hong Kong’s largest primary share placement in more than half a decade, raising HK$29.9bn ($3.86bn). The issuer tapped the market as the local benchmark Hang Seng Index hit a record high, getting strong demand from mainland investors. Jonathan Breen reports.

Macau casino operator SJM Holdings generated a $10bn-plus book for its $1bn debut bond this week, despite tight pricing and the lack of US investors. Its credit profile, the transaction’s timing and a comprehensive marketing strategy worked in its favour.

Chinese conglomerate Fosun International went to the international debt market on Wednesday for a $500m deal.

China International Capital Corp (CICC) raised a larger-than-planned $1.5bn from the bond market on Tuesday in a deal driven by Asian accounts.

The relationship between the US and China, which has faced immense strain during Donald Trump’s presidency, is unlikely to get too much relief under the Biden administration. The biggest losers will be US banks and their capital markets business in Asia.