Greater China

Chinese issuers hoping to put the pandemic behind them should not abandon coronavirus-linked bonds.

Tahoe Group Co was unable to repay a Rmb1.5bn ($213.4m) onshore bond on Monday, as it struggles with tight liquidity, limited market access and poor corporate governance.

Sunac China Holdings met some of its looming dollar refinancing pressure with a $1bn bond outing on Monday.

Chinese property manager Times Neighborhood Holdings raised HK$786.9m ($101.5m) on Monday from an accelerated share placement.

Online mobile game developer Archosaur Games is set to price its HK$2.17bn ($280.5m) Hong Kong IPO at the top of guidance, said a source close to the deal.

New Development Bank sealed its second Panda bond of the year on Monday. Despite coming out on a ‘miserable’ day for China’s domestic debt market, support from Chinese banks helped the multilateral development bank price a tight deal.

A rally in Hong Kong and China’s equity markets on Monday buoyed sentiment among debt investors too. They pumped in orders of more than $10bn into Shanghai International Port (Group) Co’s dollar bond at the peak.

Zhenro Services Group, a Chinese property manager, has pulled off a HK$1.14bn ($146.8m) IPO, pricing the deal close to the top of the marketed range, according to a source close to the trade.

Cigarette packaging producer Amvig Holdings has made a rapid comeback to the loan market for a HK$1.35bn ($174m) borrowing.

Mainland-based firms OcuMension Therapeutics and Immunotech Biopharm sealed their Hong Kong IPOs at the top of guidance, riding on support from both institutional and retail investors.

Wuhan Dangdai Science & Technology Industries (Group) Co chose a quiet Friday for deal flow to raise $200.5m from a tap.

Cathay Media and Education Group is set to wrap up bookbuilding for its Hong Kong IPO two days early, on the back of strong demand from institutional investors, according to a source close to the deal.