ICBC

China’s Tianjin Rail Transit Group Co (TRT) and Chengdu Xingcheng Investment Group Co both dipped into the euro market on Tuesday, with the former printing a green bond.

The US Federal Reserve has admonished Industrial and Commercial Bank of China for falling foul of anti-money laundering rules, saying the lender failed to properly report suspicious activity at its New York branch.

Far East Horizon has closed its largest syndicated loan at just over $1bn, after banks jumped onboard the fundraising.

Gas supplier Air Liquide raised Rmb2.2bn ($347m) from its first Panda bond on March 6, becoming the first European issuer sell a bond with a maturity of longer than three years in the asset class.

China Resources Land is lining up the Panda bond market’s first deal after the Chinese New Year holiday. The Rmb6bn ($946.6m) three year bond, the biggest offer in the asset class in six months, may kick start a streak of onshore transactions, said onshore DCM bankers.

Saudi Arabia has increased its loan from $10bn to $16bn as banks line up to join the facility, according to a statement from its Debt Management Office (DMO).

Bank of China, Industrial and Commercial Bank of China and Industrial Bank Co have raised close to $3.7bn from eight fixed and floating rate tranches in three currencies. But most of the portions had to offer a new issue premium, which ranged from a few basis points to as much as 15bp.

Asia’s debt market is heading into March at full speed with seven issuers opening new deals on Monday. Borrowers need to be quick on their feet and act promptly over the next month to get their bonds past the finish line, said bankers in the region.

The Republic of Turkey is preparing to issue its first Panda bond by the end of the year, having mandated three banks to handle the deal.

Sino-Ocean Property Holdings has extended the streak of Panda bonds issued since the start of 2018. The real estate issuer sealed a Rmb3bn ($476.2m) three year deal – its second Panda in two weeks – at the wide end of the price guidance range last Thursday.

As China's domestic bond market continues to suffer from a deleveraging campaign, Sino-Ocean Property Holdings is again turning to the Panda market for funding – less than two weeks after it last tapped the asset class.

China Cinda Asset Management Co raised a smaller than anticipated $2.5bn from a four-tranche deal on Thursday, despite having an order book that was about 6.6 times covered at its peak.