ICBC

BMW Automotive Finance (China) Co has sold its first auto loan ABS of 2021, locking in longer-dated financing with a 14 month revolver. The deal added to a strong start for the onshore securitization market in the New Year as bond yields fell from their highs at the end of 2020, writes Addison Gong.

Agricultural Bank of China and Shanghai Pudong Development Bank Co competed for investor orders on Monday. ABC, the bigger of the two and offering a green bond to the market, got more attention, while SPDB faced an uphill battle.

BMW Automotive Finance (China) Co and SAIC-GMAC Automotive Finance Co are edging closer to sealing their first China auto loan asset-backed securitization deals of the year.

Chinese property management firm Sino-Ocean Service Holding has scooped up HK$1.74bn ($224.5m) after pricing its IPO below the mid-point of the marketed range.

Chinese detergent maker Blue Moon Group has raised HK$9.8bn ($1.27bn) from its Hong Kong IPO, which saw a strong turnout from global and local investors.

Suzhou SND Group Co, a Chinese local government financing vehicle (LGFV), got lukewarm support for its debut dollar bond on Monday, forcing it to offer a bit of premium to get its deal past the finish line.

Blue Moon Group, a Chinese detergent maker, saw the book for its up to HK$9.8bn ($1.3bn) IPO covered within hours of opening on Friday.

China Resources Mixc Lifestyle Services, the property management business of state-owned developer China Resources Land, is set to price its HK$12.3bn ($1.58bn) Hong Kong IPO at the top end of guidance.

JD Health International has raised HK$27bn ($3.5bn) after sealing its IPO at the top end of the marketed range, following a flood of global investor demand.

BP, the oil major, was joined at the long end of the bond market on Tuesday by railway company Deutsche Bahn, as issuers take advantage of low spreads to stretch out their debt maturities.

The UK’s SSE Renewables and Norway’s Equinor, two energy companies, have signed what lenders say is the largest ever offshore wind project financing, a £5.5bn package for a wind farm off the UK coast.

BP, the UK oil major, and car rental company Sixt have hired banks for new bonds as the end of year issuance window looks set to stretch into next month.