Greater China

China-focused loans bankers are expecting a better year in 2021, betting on opportunities from healthcare and technology borrowers, as well as companies planning to delist. But strong competition from mainland banks and strict property regulations will cause headaches. Pan Yue reports.

It's funny what you start to miss after nearly a year without travel.

Evergrande Property Services Group, the property management arm of embattled developer Evergrande Group, was wrapping up its Hong Kong IPO on a strong note as GlobalCapital Asia went press, with proceeds of up to HK$15.8bn ($2bn) looking within reach.

China Evergrande Group got some relief from recent selling pressure this week, after convincing a large group of equity holders not to exercise a put option. It also signed up two new state-backed investors.

Unrated real estate company Ganglong China Property Group sold its maiden dollar bond on Wednesday, nabbing $150m from the high yield transaction.

China Resources Mixc Lifestyle Services, the property management business of state-owned developer China Resources Land, has opened the book for its Hong Kong listing.

Ford Automotive Finance (China) and Dongfeng Nissan Auto Finance Co both returned to the onshore auto loan asset backed securities market this week, enticing investors with similar yields.

China Hongqiao Group, the world’s largest aluminium producer, raised HK$1.94bn ($249.9m) on Tuesday after increasing the size of a top-up share placement.

JD Health International has hit the road with an up-to HK$27bn ($3.5bn) Hong Kong IPO, set to be the largest primary listing in the city this year.

Shui On Land tapped its 5.75% 2023 bond on Tuesday for an additional $200m, bringing the unrated deal to $500m.

Alibaba’s chief executive Daniel Zhang has praised a regulatory crackdown on China’s technology titans. That was an abrupt turn from co-founder Jack Ma’s loose-lips policy to discussing China. Investors will be relieved.

Hong Kong Broadbank Network has increased a loan to HK$5.5bn ($709m) after attracting 20 participants during syndication.