Guotai Junan Securities Co

Three Chinese issuers hit the debt market on Tuesday, launching dollar deals. While the pace of new issuance is beginning to slow down, there appears to be no end in sight for the primary bond market.

Two borrowers from the Shandong province in China used different approaches to woo dollar investors to their deals on Thursday, with one going for a rare structure and the other opting to anchor its issuance.

Four Chinese corporate issuers Wanda Holding Group Co, Shandong Iron & Steel Group Co, Hefei Industry Investment Holding (Group) Co and Wuhan State-Owned Asset Management Company are fighting for investors’ attention on a busy Thursday in the primary bond market.

State-authorised asset operator China Reform Holdings Corp found only marginal international support for its debut dollar bond on Monday, as the buyside struggled to relate to the company’s story and the deal’s structure.

China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.

A handful of Chinese issuers are set to go on roadshows next week to gauge investor interest for their offshore bonds.

Chinese local government financing vehicles Binhai Investment Company and Qingdao City Construction Investment (Group) took advantage of their investment grade credentials to raise a collective $1.1bn from bonds on Wednesday.

Times Property Holdings sealed a $300m deal on Wednesday in a market that continued to prove difficult, while Orient Securities raised $500m from a 2022 bond to keep its investor base alive.

The barrage of Chinese debt issuers in the dollar market continued on Wednesday as four issuers ventured out with new bonds.

China’s Liaoning Fangda Group Industrial Co and BlueFocus Communication Group Co are meeting investors this week for their first international bond offerings. Huarong Real Estate Co, meanwhile, will hit the road for a euro deal.

A broad range of Chinese issuers have mandated banks to arrange roadshows in Hong Kong and Singapore early next week ahead of their dollar bond transactions.

Chinese property company Xinyuan Real Estate Co raised $200m from a 2020 transaction on Wednesday, managing to price the deal in a difficult environment.