ICBC

A handful of Chinese companies managed to hit the bond market on Wednesday for new deals, ahead of not just the upcoming Chinese New Year break but also the jumbo outing launched by Alibaba Group Holding on Thursday.

SAIC-GMAC Automotive Finance Co has wasted no time in making its second appearance in China’s onshore auto loan ABS market this year, selling a Rmb10bn ($1.55bn) Rongteng 2021-2 transaction on Monday.

Chinese video-sharing platform Kuaishou Technology is generating huge demand for its IPO, which could be worth as much as HK$42bn ($5.4bn). The deal, set to be the largest primary listing globally since 2019, shows the growing interest around short video companies. Jonathan Breen reports.

Red chip issuer Yuexiu Transport Infrastructure ditched its usual bullet bond structure in favour of a five year puttable Panda outing this week.

Hainan State Farms Investment Holdings Group Co debuted in the dollar market on Wednesday with a three year bond.

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SAIC-GMAC Automotive Finance Co is already eyeing its second auto loan securitization deal of the year, just a couple of weeks after kickstarting China’s auto ABS market for 2021.

Chinese video-sharing platform Kuaishou Technology, a rival to TikTok parent ByteDance, has started testing investor appetite for Hong Kong's largest IPO in over two years as it seeks HK$42bn ($5.42bn).

Macau casino operator SJM Holdings generated a $10bn-plus book for its $1bn debut bond this week, despite tight pricing and the lack of US investors. Its credit profile, the transaction’s timing and a comprehensive marketing strategy worked in its favour.

Lidl, the Germany-headquartered budget supermarket chain, has entered the syndicated loan market to raise cash from Asian lenders for a second time, according to market sources.

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.