Guotai Junan Securities Co

Hong Kong’s PCGI Intermediate Holdings, a subsidiary of FWD, raised $250m from the bond market on Tuesday. While the company hit its size target, orders were limited and the price guidance was unchanged throughout the day.

Two unrated Chinese local government financing vehicles (LGFVs), Danyang Investment Group Co and Zhenjiang Cultural Tourism Industry Group Co, came to the dollar market last Friday for a combined $435m.

China Aluminum International Engineering Corp (Chalieco) raised $350m from a senior perpetual bond after closing the order book much earlier than usual. Shanghai Electric (Group) Corp made a rare visit to the dollar market.

Road King Infrastructure returned to the dollar market for the fourth time this year on Monday. The borrower, which has favoured fixed-for-life perpetual bonds before, offered investors a slightly different perpetual deal this time that would see its coupon be reset but has no additional step-up.

Chinese local government financing vehicle Qingdao West Coast Development (Group) Co sold its inaugural offshore bond on Monday, pricing the notes in line with its better-rated peer after an aggressive tightening.

Guangzhou Metro Group Co raised $200m from a popular return to the dollar bond market on Wednesday, while two of its Chinese local government financing vehicle (LGFV) peers made their offshore debuts.

Six Chinese real estate issuers — mostly high yield — flooded the dollar bond market on Monday with one to four year tenor deals. Investment grade rated China Vanke Co, on the other hand, tapped the longer end of the curve with a dual-tranche issuance.

SinoMab BioScience, a biopharmaceutical firm, has started taking orders for its up to HK$1.7bn ($223m) Hong Kong IPO.

Chinese residential and commercial real estate developer Sinic Holdings has kicked off a roadshow for a HK$2.25bn ($287m) listing.

Three Chinese real estate developers came to the bond market on Tuesday, raising a combined $1.25bn.

Shanghai Pudong Development Bank Co priced a $300m floating rate note (FRN) at just a marginal premium over the curve of the big four Chinese lenders.

Chinese state-owned commodity chemicals producer Shanghai Huayi (Group) Co has sold an almost 10 times covered five year bond, while Yuzhou Properties Co raised $500m to fund a tender offer. Two local government financing vehicles also made their offshore debuts.