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The Chinese ministry of finance (MoF) announced on May 12 that it planned to auction a total of Rmb28bn of offshore RMB (CNH) bonds in Hong Kong this year, dividing the sales into two blocks of equal size.

A double digit rally in Chinese property bonds has tempted Agile Property Holdings back into the market for the first time in over a year. Since its previous outing it has been forced to extend the deadline on a loan, seen the departure and return of its chairman and suffered a credit rating downgrade. Despite that, the borrower is likely to opt for price over size, said bankers.

A number of foreign banks are eyeing a potential loan to fund the buyout of the Indian business of outsourcing company Serco.

Two Chinese investment grade credits went head-to-head on May 12 in what was gearing up to be a busy day for Asia’s bond markets, with four dollar trades vying for investors’ attention.

Institutional orders are pouring into the IPO of Yunnan Water Investment, which opened books to a HK$1.67bn ($215m) on May 12. Even though there is still a week left of bookbuilding, investor interest is so strong that the deal is already covered.

Two private equity firms have chosen Bank of China as sole mandated lead arranger and bookrunner and agent for a loan of nearly $2bn to fund their acquisition of the LED component and automotive lighting business of Philips.

Korea Development Bank has made a bold return to dollar bonds in a deal that bankers claim scored one of the tightest ever spreads for a Korean name. The pricing drew plenty of criticism, but the deal’s defenders are hailing the trade as a success, preferring to focus on the quality of the order book.

Brazilian cement company Cimento Tupi has missed a payment on its $185m senior unsecured notes due 2018 just eight months after tapping the bonds for a further $35m.

Hong Kong listed Chinese company Texhong Textile Group has increased the size of its loan to $110m from a launch size of $90m. The deal, which had three mandated lead arrangers and bookrunners, saw four banks come in during general syndication.

China Resources Land is the latest company to join the placement spree in Hong Kong, opening books to a top-up placement that could be worth as much as HK$9.75bn ($1.26bn).

Hong Kong listed Capital Environment Holdings is seeking shareholder approval later in the month for a $271m rights issue that will see it double its share capital.

Taiwan’s United Microelectronics Corp raised $600m with a convertible bond on Monday May 11, in one of the biggest equity-linked deals in the country for years.