Greater China

Redco Properties Group managed to tighten pricing on its 364-day bond by a hefty 50bp on Wednesday, bagging $250m from the issuance. But the yield still appealed to the buy-side, with investors pumping in $1.6bn in orders at its peak.

The State Council officially launched the financial stability and development committee (FSDC) – a new organ to co-ordinate financial reform and regulations – on November 8, appointing Ma Kai, vice-premier, as chairman of the committee.

Property developers Yango Group Co and Jiayuan International Group are marketing new dollar bonds on Thursday. The former has opted for a three year, while the latter is choosing to go short with a 364-day deal.

Thailand’s Siam Commercial Bank is courting investors for a dollar bond, to be sold through its Cayman Islands branch, while China Minsheng Banking Corp is also marketing a transaction through its Hong Kong arm.

Bookrunners on China Development Bank Corp’s debut international green bond have released price guidance for a dual-tranche transaction featuring dollars and euros.

Yunnan Provincial Energy Investment Group Co, a Chinese local government financing vehicle (LGFV), raised $600m on Tuesday from a dual-tranche deal that was nearly nine times covered.

China Eastern Airlines Corp has nabbed S$500m ($366.69m) from its first foreign currency transaction as it makes an attempt to diversify its funding base.

Kingboard Chemical Holdings’ controlling shareholder is paring its stake in the firm through an accelerated sale of shares on Wednesday evening that could raise HK$920m ($118m).

China’s policy of opening up its onshore market while holding a tight grip on capital flows is unsustainable, according to two Chinese academics, who called for a more proactive policy from China in promoting renminbi internationalisation.

KWG Property Holding raised $300m from a seven year non-call four bond on Tuesday, managing to pay a zero to negative new issue premium despite hitting the dollar market for the fourth time in 2017.

China Overseas Grand Oceans Group (Cogo) is taking the rights issue route to pay off debt, proposing to raise HK$4.7bn ($595.9m) from shareholders.

ICBC Financial Leasing Co hit the dollar bond market on Wednesday with a dual-tranche transaction, returning a few months after its last international issuance.