Greater China
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China Evergrande Group hit its size goal of $3bn with a tap of three of its existing bonds, a strategic decision by the property developer. But the issuance dented its secondary curve as noteholders fled to the juicier new transaction. -
Ping An Real Estate, a unit of Ping An Group, is returning to the loan market for an up to $300m borrowing after a two-year absence.
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Far East Horizon has opened into syndication a $580m-equivalent three year term loan via six mandated lead arrangers and bookrunners.
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Investors swarmed to Johnson Electric Holdings’ maiden dollar bond transaction, allowing the borrower to raise $300m from a nearly six times oversubscribed deal at its peak.
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Haitong UniTrust International Leasing, owned by Haitong International Securities, is seeking a $100m loan as its parent company also woos lenders to a separate, larger facility.
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Qatar National Bank has sold a Rmb500m ($73m) three year bond through Standard Chartered, continuing its ongoing presence in this market.
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The China Securities Regulatory Commission (CSRC) has cut the membership of its IPO review committee by two thirds, from 63 to 21. Of those 21, there are 12 new members.
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Asia’s offshore bond market has had a strong start to the year, moving past the doom and gloom that ended 2018. But there are already signs that the difficult conditions that defined last year may only be around the corner.
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In this round-up, China’s fourth quarter saw 6.4% GDP growth, Germany’s finance minister concluded a two-day visit in Beijing with 34 agreements, and cross-border payment services provider Swift took a first step to establish an onshore entity.
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Chinese state-owned Shenwan Hongyuan Group and Hong Kong-based restaurant owner Tai Hing Group are preparing their IPOs for this year.
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Kepei Education has raised HK$876.27m ($112m) after pricing its IPO at the mid-point of the indicative range, according to a banker.
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Profit Reach International, an investment vehicle owned by Chinese billionaire businessman Shen Guojun, has returned to the loan market for a $550m refinancing.
