Greater China

Minsheng Financial Leasing has closed its latest syndication on a high note, with the loan increased to $335m as banks gobbled up the deal.

China’s National Development and Reform Commission (NDRC) announced a second batch of 11 firms as part of a pilot programme, which allows firms to choose their funding windows in the international debt market without needing to seek the regulator’s blessing.

Maikun Investment Co, part of Beijing Automotive Group (BAIC), has switched the currency on its $290m financing to euros midway through syndication.

China Everbright Greentech has opened the gates to its potential HK$3.3bn ($424.5m) IPO having already secured more than a third with cornerstone investors.

China’s economy grows faster than expected in the first quarter of 2017, the head of State Administration of Foreign Exchange (Safe) meets with the deputy governor of the World Bank, and Citic says demand for cross-border financing activity is on the rise.

Peer-to-peer lender China Rapid Finance has launched bookbuilding for its US listing, which could raise $115m, according to a termsheet seen by GlobalCapital Asia.

State Grid Corporation of China, China Huarong Asset Management Co and State Development & Investment Corporation have mandated banks for new bonds, with the latter making its debut in the international market.

A glimpse of the future has arrived with the publication of a report modelling the credit risk banks face from drought. The effect on loan portfolios could be severe — and the research illustrates the new kinds of risk management banks will have to do as the world’s climate becomes more volatile.

Aluminum Corp of China, Peking University Founder Group, Beijing Enterprises Holdings and Singapore’s Oxley Holdings all walked away with new bonds on Wednesday, wrapping up a blockbuster issuance week ahead of Easter.

CMB Financial Leasing is in the market for a $350m bullet that launched via three leads on Thursday, according to a banker arranging the deal.

China Everbright International has finalised the offer terms for the spin-off and listing of its green technology arm, which could raise up to HK$3.3bn ($422.4m).

CCB Life Insurance Company on Wednesday sold a core tier two subordinated bond under China’s Risk-Oriented Solvency System (C-ROSS), becoming only the second issuer to do so. While the offshore market has seen increasing supply from Mainland insurers, the outlook for more core T2 issuance is unclear.