Haitong Securities

China Great Wall Asset Management Corp snapped up $600m from a five year bond on Thursday, a modest size compared to its last offshore outing.

HSBC’s China subsidiary returned to the domestic bond market on Tuesday, issuing a Rmb3bn ($473.6m) three year bond, trading on the bank’s name recognition onshore.

The China arm of HSBC visited the Chinese debt market this week and took home Rmb3bn ($472.5m). The issuer cashed in on its name recognition in Mainland China, and sealed the deal despite cautious sentiment among onshore investors.

HSBC’s China subsidiary is returning to the domestic bond market with a three year note today. Quietly confident that offshore investors will participate through Bond Connect, the bank took a relaxed approach when marketing the deal, sources familiar with the transaction told GlobalRMB.

China Minmetals Corp subsidiary Minmetals Land scared off many investors on Thursday by opting for a perpetual bond. But the unrated issuer still managed to put together a $200m trade, thanks to its parent company’s government ownership.

China Huadian Corp priced a $600m bond on Thursday that proved popular in both primary and secondary markets thanks to a stabilising market backdrop. Southwest Securities Co also found a receptive audience for a sub-one year bond, but was unable to tighten pricing.

A handful of Chinese investment grade rated state-owned companies are gauging investor appetite for new deals amid a weak market backdrop.

The underperformance of China Aoyuan Property Group’s bond on Thursday cast a shadow over new issues from Yuzhou Properties Co and Fantasia Holdings Group Co, with pretty muted responses for both deals.

There are two phrases that don’t often go together in the capital markets: ‘13% yield’ and ‘two year bond’. But that eye-watering funding cost was just what China’s Hydoo International Holding paid on its latest exchange offer, marking the highest yield for a dollar bond since 2015. Bankers think there will be plenty more where that came from, writes Addison Gong.

China Aoyuan Property Group’s $200m bond dropped sharply in the secondary market on Thursday as global markets wreaked havoc on the company’s notes.

China Aoyuan Property Group, Hydoo International Holding and Indonesia’s Federal International Finance wasted no time in hitting the bond market on Wednesday after the Labour Day holiday.

China’s Envision Energy Overseas Capital Co grabbed $300m from a green bond on Thursday after weeks of wooing investors. But price discovery posed a challenge because of renewable companies coming under pressure recently.