Greater China

Chinese companies Xiamen Xiangyu Group Corp and Shimao Property Holdings each raised $500m on Tuesday, but saw different reactions to their bonds. While investors were keen on the former investment grade rated name, demand for the property industry is starting to see some pull back.

Indonesia’s Medco Energi Internasional and China’s GCL New Energy Holdings bagged $500m each from debt investors on Tuesday, showing the appeal of the commodities and renewable industries.

Hong Kong’s stock exchange wants to make technical — but undoubtedly important — changes to Bond Connect, putting increasing emphasis on expanding its fixed income and currencies product offering, said Charles Li, the exchange’s chief executive.

The first Hong Kong IPO to have dual-class shares could come as early as this autumn, the head of the city’s bourse said this week.

Chinese data centre operator GDS Holdings has opened a follow-on placement of its American Depository Shares (ADS), eyeing around $200m.

Onshore investors forced red chip issuer Country Garden Holdings to pull a Rmb1.8bn ($281.2m) three year bond on Tuesday. It would have been the real estate company’s first deal in the Panda market since September 2016.

Shenzhen International Holdings has raised Rmb300m ($46.9m) from a five year non put three Panda bond. The deal, which marked the issuer’s first outing in the asset class, was also the first Panda to list in the exchange market in 2018.

Dongying Fangyuan Nonferrous Metals Co has made a rapid return to the dollar loan market, seeking commitments for a $100m one year facility.

Fosun International raised $700m from two bonds on Monday, tapping an outstanding three year sold at the end of 2017 while extending its maturity profile with a new five non call three year. The deal came a week after Moody’s raised the issuer’s corporate family rating by one notch.

Morgan Stanley Formosa Holdings pulled off a NT$5.8bn ($199.3m) block trade in CTBC Financial Holdings on Monday — Taiwan’s largest accelerated share sale in four years, according to a source close to the deal.

Shenzhen Sunway Communications has reached out to lenders for an up to $250m borrowing, marking its debut in the overseas loan market.

A-Living Services Co plans to raise around HK$4.7bn ($605m) in a Hong Kong IPO, on the back of strong indications of interest from investors.