ICBC

ICBC International Holdings, through Horsepower Finance, raised $650m on Monday, reaching its $1.2bn debt-raising cap given by regulators last year.

Turkish lender Vakifbank has signed a three year bilateral loan agreement with ICBC’s Dubai branch for $250m.

Singapore-listed commodities company Noble Group, ICBC International and China SCE Property Holdings were out of the gates on Monday morning for new dollar outings, coming before a widely expected Federal Reserve rate hike this month.

China Reinsurance (Group) Corp and China Cinda Asset Management Co ventured out on a busy Thursday with their respective five year prints that saw investors stand firmly by their sides. The two took a combined $3.8bn.

The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.

China Development Bank became the latest name to take advantage of a liquidity-abundant market, snapping up $3bn-equivalent from three floating rate tranches in two currencies — in one of the largest FRN trades out of Asia.

Three issuers from the aircraft industry, Grand China Air Co, China Aircraft Leasing Group Holdings and Hong Kong Express Airways, hit the runway for their respective dollar offerings on Tuesday morning.

Issuers from Greater China are set to storm the debt market soon with China Reinsurance Finance Corp, China Cinda Asset Management Co, Grand China Air Co and Pacific Century Premium Developments eyeing dollar offerings. Separately, New China Life Insurance Company has got the green light from its board to raise funds offshore.

China Development Bank Corp is making a swift return to the debt market with a floating rate transaction split between three and five year dollar portions and a 2020 tranche denominated in Hong Kong dollars.

Midea, the Chinese appliance maker, is in discussions with European and Asian bank lenders to refinance a €3.7bn bridge facility.

ICBC (Asia) has begun offering 24-hour CNH prices for its clients, become the first Chinese bank to quote offshore renminbi all day.

Industrial and Commercial Bank of China (ICBC) and Bank of Communications (BoCom), enjoyed success with their decision to jump on the floating rate note (FRN) bandwagon on Monday, via their Hong Kong branches. The former bagged $2bn from a triple-tranche offering and the latter $850m from a three year floater.