Greater China

China Huarong International Holdings began marketing a four tranche dollar deal on Thursday morning, including two floating rate notes.

Chinese corporate names Want Want China Finance and China SCE Property were out in the market on Thursday morning.

Chinese school operator Bright Scholar Education Holdings is set to start investor education for its US IPO, which is expected to raise $200m, according to a source close to the deal.

Daimler’s subsidiary Mercedes-Benz Auto Finance priced its first transaction under the Silver Arrow China series in 2017, while Ford Automotive Finance (China) also wrapped up its auto loan ABS, Fuyuan 2017-1.

Leoch International Technology is in the market for a $150m fundraising that launched into general syndication via three mandated lead arrangers and bookrunners.

Beijing-based Poly Culture Group Corp is seeking shareholder approval for an H-share placement that could raise around HK$1.1bn ($138.8m), according to a filing with the Hong Kong Stock Exchange.

China Orient Asset Management International Holdings is deciding whether to increase the size of its $300m loan after attracting a blowout response in syndication.

Stock Connect investors are demanding a multi-broker delivery versus payment (DVP) solution to limit counterparty risk issues that have thrown up by the different settlement cycles, Cindy Chen, country head of securities services at Citi, told GlobalRMB. Brokers are lining up to the join platforms despite the competitive challenges.

Wednesday proved yet another robust day for Asian bonds, with rubber company Halcyon Agri Corporation, Industrial and Commercial Bank of China’ Singapore branch and Chinese developer Times Property Holdings out for funds in the primary market.

Embattled China Hongqiao Group’s banks have given it a reprieve from a credit crunch, after consenting to a covenant waiver on its $700m syndicated loan.

China Southern Power Grid Co. is preparing investors for its debut dollar, 144A/Reg S deal.

Chinese regulators are keeping a tight control on offshore bond flows this year, as issuers report a lengthy registration process and an inconsistent approach to approvals. With borrowers itching to go offshore before the market backdrop becomes unreceptive, China’s overbearing approach could very well backfire.