Greater China

ABC International Holdings tackled its looming maturities head on with a $500m three year bond on Tuesday, finding favour among investors thanks to fair pricing and its rarity value.

Sino-Ocean Group Holdings leveraged on its stronger sales performance and credit metrics to storm into the debt market on Tuesday, showing that it has put a short but tumultuous period behind it.

Haitong UniTrust, the leasing arm of Haitong Securities, is eyeing an end-September window to launch its $500m IPO in Hong Kong.

Investors have been receptive to ZhongAn Online Property and Casualty Insurance Co’s $1.5bn IPO in Hong Kong despite the punchy valuations on tow, said bankers.

Hong Kong-listed Universal Medical Financial & Technical Advisory Services has set its sights on the offshore syndicated loan market for a $300m dual-currency maiden borrowing.

Beijing Hyundai Motor Group has completed its second securitization in China this year, selling a Rmb3.5bn ($535.3m) two tranche deal on September 12. While the transaction’s timing coincided with rising political tensions between China and South Korea, investors remained undeterred.

In the past year, Chinese authorities have taken measures to boost capital inflows, while keeping the currency and potential outflows under strict control. In this exclusive Q&A with GlobalRMB, Calixte Ahokpossi, senior economist at the International Monetary Fund, says China needs more reforms, and that introducing a flexible currency framework should be a priority.

CSI Properties and China Logistics Property (CNLP) are in the thick of the dollar debt market this week, with the former gauging interest for a perpetual deal, and the latter boosting its coffers with a tap.

Wynn Macau, a unit of casino giant Wynn Resorts, announced a two-tranche bond on Wednesday, part of a $1.35bn outing to redeem its outstanding 2021s.

Foreign asset managers will increasingly use RMB raised in China to invest overseas, as the private fund management (PFM) programme takes off, said Alexious Lee, head of capital access, China, at CLSA.

Red Star Macalline Group Corp, a furniture retailer plus shopping mall owner, is ready to start roadshows for its international bond debut, after initially mandating banks back in April.

Syndicated loan activity in Asia ex-Japan may have slumped this year, but the slowdown is not all bad. The numbers show a return to normalcy in the region following an unusually stellar year of business in 2016, according to speakers at a loan market conference last week.