Northeast Asia

BMW Finance, a subsidiary of German carmaker BMW, sealed a Rmb500m ($72m) three year dim sum bond on Thursday. It was the first publicly sold offshore renminbi trade by a corporation since November last year.

China’s Excellence Commercial Property and Facilities Management Group is preparing to launch its Hong Kong IPO this month, according to a source close to the deal.

Chinese local government financing vehicle Qingdao China Prosperity State-owned Capital Operation (Group) Co followed its peers to take an aggressive approach to pricing its $200m bond.

A consortium-led by Henderson Land Development is in talks with banks for a new loan to support its development of a residential project in Hong Kong.

Agricultural Development Bank of China’s Rmb4.3bn ($618m) dim sum bond this week brought in a record number of investors from outside of Asia, a senior treasury official told GlobalCapital China.

Alibaba Health Information Technology navigated concerns around its lofty valuations to pull off Hong Kong’s largest primary follow-on in five years, raising HK$10bn ($1.29bn) after boosting the size of the deal. The transaction closed with a bulging book, showing that demand for the healthcare sector is yet to peak. Jonathan Breen reports.

The resilience of China’s property market amid the Covid-19 pandemic is paying off for many of the country’s bond issuers, which have been able to reprice their secondary curves owing to strong investor support, writes Morgan Davis.

Holders of Chinese property developer Tahoe Group’s onshore bonds had to face up to two defaults from the company this week, as uncertainty looms over whether a tie-up with its peer China Vanke Co will eventually go ahead. Addison Gong reports.

Hope Education Group made its debut visit to the equity capital market this week, raising HK$1.2bn ($153m) after increasing the size of a primary share placement.

Social distancing, wearing masks in public, bars and restaurants shutting down en masse: the coronavirus is a gift to those trying to avoid people.

Recycling aluminium manufacturer Ye Chiu Group has returned to the loan market after a four year absence for a $150m deal to meet its refinancing needs.

CMB Financial Leasing Co returned with five year and 10 year dual-tranche bonds on Wednesday, selling the first decade bond from a Chinese FIG credit in more than a month as costs for longer-dated notes fall.