Greater China

Guotai Junan International Holdings launched a 364-day dollar bond on Monday, the issuer’s first public offshore debt offering in more than three years.

China's embattled HNA Group Co returned to the bond market with a $300m deal on Thursday. But the company was forced to stomach a sharp increase in its funding costs.

Chinese property giant China Vanke Co has priced a 10 year deal around fair value, taking $1bn out of the market. The company made the most of a strong name recognition and some rarity value, making just its third issue in the offshore bond market.

The Ministry of Commerce (MofCom) completes the first draft of foreign investment law, regulators give BEA Union Investment Management the go-ahead to launch a wholly foreign owned enterprise (WFOE) in Shenzhen, and Renmin University’s vice president claims the renminbi will be fully convertible within five years.

Mainland firm Harvest Property Holdings is looking to join its peers south of the border, with a plan to float on the main board of the Hong Kong Stock Exchange.

Red chip issuer Yuexiu Transport Infrastructure is preparing to sell its first Panda bond in the interbank bond market, having filed for a Rmb2bn ($302.7m) issuance programme this week.

ASM International has pocketed HK$4.1bn ($526.4m) after offloading a chunk of ASM Pacific Technology stock, pricing it toward the top end of guidance.

Hong Kong-listed Huarong International Financial Holdings is gearing up for a Rmb2bn ($302.7m) Panda bond private placement, which would mark the financial issuer’s first outing in the asset class.

China YuHua Education Corp raised HK$936.7m ($120.1m) from a quick return to the equity market after listing in February.

China Eastern Airlines Corp has named banks to lead its first Singapore dollar bond, with a roadshow being held next week.

Hong Kong’s overnight interbank lending rate spiked dramatically this week, after a horde of retail investors borrowed on margin to place bets on two IPOs.

Several Chinese borrowers have hit the loan market for two year money in recent months, in contrast to more established firms from the mainland which are pushing out tenors on their borrowings. While typically banks and borrowers prefer to lock in longer-term loans, for some the nature of the business and the lenders’ unfamiliarity with the company necessitates a shorter life to mitigate risks.