Greater China

Borrowers that ventured out to the Asia debt market on Wednesday should consider themselves lucky as the competition turned fierce on Thursday with six live deals. Beijing Properties (Holdings) and China Everbright Bank Hong Kong were among the names that managed to get ahead of the supply deluge.

Onshore RMB bonds are increasingly making their presence felt in the international stage following the launch of a pair of Bloomberg-Barclays China indices on Wednesday.

The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.

International asset managers are pushing for a more liberal version of the upcoming China-Hong Kong ETF Connect, with the focus on whether ETFs will be considered as stocks or funds by the regulators.

China Orient Asset Management (International) Holdings’ proposed Rmb2.8bn ($407m) Panda bond programme on the Shanghai Stock Exchange has been cancelled.

BlackRock has received the very first RMB qualified foreign institutional investor (RQFII) quota under the US allocation from the State Administration of Foreign Exchange, in yet another sign that global asset managers are ready to boost their China investments.

Hong Kong-listed Singamas Container Holdings has reached out to lenders for a $250m borrowing with one bank at the helm. Although the company posted a loss for the six months to June 30, 2016, its strong balance sheet due to low debt is expected to see the deal through, said bankers.

Maikun Investment Co, an entity under Beijing Automotive Group (BAIC), is borrowing $290m from a five year syndicated loan that opened for retail participation on February 17.

Tuesday turned out to be a big day for aviation related companies with Grand China Air, China Aircraft Leasing Group and Hong Kong Express Airways venturing out with their respective bonds, raising a combined $810m.

Environmental solutions provider China Everbright International is looking to spin off and list its subsidiary China Everbright Greentech (CEG) in a potential $300m IPO as soon as April, according to a banker familiar with the matter.

SAIC-GMAC Automotive Finance is set to make its first auto ABS appearance this year with a Rmb4bn ($582m) Rongteng 2017-1 Retail Mortgage Loan Securitization — the first time it is securitising a subsidised portfolio.

Beijing Properties (Holdings), China Everbright Bank and Olam International were vying for investors’ attention on Wednesday in what is a busy week for dollar issuance in Asia ex-Japan.