ICBC

Chinese issuers are yet again dominating the supply in Asia ex-Japan debt markets, with four firms wooing dollar and euro bond investors on Tuesday.

The Russian loan market is moving towards more unsecured deals with Russian paper company Ilim signing the fourth unsecured deal this year, for $500m.

The surge in dollar bond issuance from Asia ex-Japan continued unabated at the tail end of last week, with three issuers selling $1.1bn of deals on Friday.

Volkswagen Finance (China) wrapped up its third asset-backed securities (ABS) deal on Friday, raising Rmb3.5bn ($531.8m). The company was forced to extend bookbuilding into a second day amid rising bond yield in the Chinese market.

Property developer Country Garden, which holds the record for selling the Panda market’s largest bond, has obtained approval for a Rmb9.5bn ($1.44bn) issuance programme, the company said in a filing on Hong Kong Stock Exchange on Thursday.

Centratama Telekomunikasi Indonesia has launched a triple-tranche $390m financing into general syndication through two mandated lead arrangers and bookrunners.

The Province of British Columbia (BC) completed its second Panda bond on Wednesday, raising Rmb1bn ($150.9m) from a three year deal. The issuer went ahead with the deal despite rising yields in China – pushing the coupon to the top half of the guidance range.

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.

Yankuang Group Company has become the only issuer from Asia ex-Japan to venture into the dollar market on Thursday, a US holiday for Thanksgiving. But many other Chinese issuers are waiting in the wings, with a flurry of mandates announced.

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

The Islamic Republic of Pakistan has set the stage for a dollar-denominated sukuk and a dollar conventional bond, hiring banks for the transaction.

Volkswagen Finance (China) is gearing up for its third appearance this year in the Chinese asset-backed securities market, plotting a Rmb3.5bn ($528.1m) deal. The transaction comes amid a flurry of foreign name originations in China in recent weeks.