Greater China

HSBC has demanded repayments of principal and interest totalling $220m for loans raised by troubled China Huishan Dairy Holdings, about five months after it declared an event of default on a $200m syndicated loan.

BOC Aviation landed safely with its dual-tranche bond on Monday, pricing both the $500m portions inside its curve. While participation from US investors was significant, Asian accounts were still the price leaders, helping the issuer keep its costs low, said bankers.

Dongxing Securities (HK) Financial Holdings is making its debut in the international loan market with a $300m two tranche deal.

Mercedes-Benz Auto Finance is gearing up for its second deal in China’s securitization market this year as it beefs up its operations in the Mainland.

Chinese online luxury product retailer Secoo Holding has launched an IPO of American Depository Shares that could raise up to $114.8m.

Chinese consumer electronics parts maker Luxshare Precision Industry has returned to the debt market for a $300m three year senior unsecured term loan, after an absence of nearly two years.

ABC International Holdings is back in the offshore bond market, opening books for a senior unsecured fixed rate dollar trade on Tuesday. Separately, Beijing Infrastructure Investment Co is set to end its two-year absence from the international market.

Sisram Medical, a subsidiary of Chinese conglomerate Fosun International, has raised HK$978.6m ($125m) from its spin off in Hong Kong, pricing the IPO at the bottom of guidance.

Sun Hung Kai & Co’s good run in the dollar debt market continued this week as the Hong Kong financial investment firm sealed a $150m tap, once again going beyond the targeted size.

Bank of Qingdao is whetting investors’ appetite with a dollar-denominated Basel III additional tier one bond, only the second from a Chinese city commercial bank, and coming ahead of an expected flood of supply from the country.

The Belt and Road Initiative (BRI), without a doubt, will find many private sector takers. But despite their desire to get involved, investors are holding their horses as they assess risks, especially political ones, in Belt and Road countries.

Sino-Ocean Group Holdings began marketing a new subordinated deal on Tuesday morning, returning to the dollar bond market after a gap of more than two years.