Greater China

Redco Properties Group has jumped on the short-dated bond trend, launching a 364-day dollar deal on Wednesday.

Swift is looking to further streamline the RMB payment experience with the recent integration of China’s cross-border interbank payment system (CIPS) data with its information platform and the launch of the global payments innovation (gpi) initiative, Eddie Haddad, managing director for Swift in Asia Pacific, told GlobalRMB.

Qingdao Haier Co has raised HK$8bn ($1.03bn) through an exchangeable bond, leveraging on its brand recognition to tighten pricing, according to a source close to the deal.

China’s Avic International Leasing Co sealed its first offshore dollar deal on Monday, manoeuvring through the market to land support from investors outside of its traditional home base.

Chinese banks and corporations are making use of the fast-growing asset-backed securitization (ABS) market to aid the country’s deleveraging efforts, analysts told GlobalRMB.

Hong Kong-based Far East Consortium International (FEC) and Chinese securities house Guotai Junan International Holdings both sold unrated bonds on Monday. While neither issuer saw overwhelming demand, they still managed to walk away with their desired $150m and $300m, respectively.

China’s regulators have left DCM bankers, issuers and investors befuddled this year, as they struggle to understand which companies will gain approval to issue offshore bonds and which will be rejected. In this environment it was only natural that sub-one year bonds, which don’t need approval, should become very popular, but a recent deal shows using the loophole comes at a cost.

Inflatable pool manufacturer Bestway Global Holding is on track to raise up to HK$1.5bn ($196.6m) from its IPO, drawing in a mix of international and Chinese investors to cover its deal multiple times over, according to a source close to the deal.

China Development Bank Corp (CDB) is gearing up for talks with fixed income investors for its inaugural offshore green bond, mandating firms for a dual-currency transaction.

Hong Kong’s fixed-line telecom operator WTT HK, better known as Wharf T&T, has mandated banks for a 144A/Reg S dollar deal, with a global roadshow kicking off in Hong Kong on Tuesday.

CCCG Overseas Real Estate (Core), a Singapore-based company owned by China Communications Construction Group, has approached banks for its maiden dollar syndicated loan.

Chinese local government financing vehicle Yunnan Provincial Energy Investment Group Co and real estate developer KWG Property Holding are taking bids for their respective dollar bonds on Tuesday.