Guotai Junan Securities Co

A number of Chinese real estate companies kicked off their refinancing for 2020 on Monday, with higher rated issuers tapping longer-dated bonds and the weaker names actively engaging in liability management.

Asian bond issuers went full speed ahead with their fundraising plans on Monday, launching new deals ahead of Chinese New Year holidays at the end of the month.

It is set to be a busy start to 2020 for the Hong Kong Stock Exchange, with three live IPOs in the market. The most recent launch came from Shanghai Gench Education Group, which hit the road with a HK$773m ($99.2m) deal on Thursday.

Powerlong Commercial Management Holdings launched the roadshow for its HK$1.5bn ($193m) IPO on Monday. The property management company is being spun off by Powerlong Real Estate Holdings.

Excellence Commercial Properties Co netted $100m from an offshore bond sale last Friday.

Chinese residential developer Zensun Group bagged $120m from a tap of its debut bond on Thursday, launching the deal on the back of plenty of anchor support.

Poly Property Development has launched a roadshow for its Hong Kong IPO, with Singapore's sovereign wealth fund GIC throwing its weight behind the company.

Chinese real estate firms Seazen Holdings Co and China South City Holdings both came to the dollar bond market this week, making use of a narrowing window for issuance before the year ends.

Three Chinese property names hit the bond market on Tuesday, raising a combined $1.624bn in a mix of senior and subordinated trades.

Two local government financing vehicles (LGFVs) from the Zhejiang province, Shaoxing Shangyu State-owned Capital Investment and Operation Co and Hangzhou Linjiang Investment Development Co, priced their inaugural dollar bonds this week.

Macau casino operator Melco Resorts & Entertainment, Philippine power company AC Energy and a local government financing vehicle from Jiangxi were among the crop of issuers to hit the bond market on Tuesday.

Yuzhou Properties Co became the latest Chinese borrower to wrap up its offshore issuance quota for the year after selling a $500m bond on Thursday.