Shanghai Pudong Development Bank

Yorkie Wong had worked at HSBC and Shanghai Pudong Development Bank

Jewellery-to-property firm makes loan return, soon after divesting some of its assets

The refinancing attracted 10 banks during syndication

The facility will be used to refinance a loan maturing in May

Issuers turn to bonds to support property acquisitions, but any ease up in liquidity pressure is set to be limited

Two Chinese developers join the bank to issue bonds supporting property acquisitions

Avic International Leasing Co turned to the euro market on Tuesday for a sub-one year bond, but the deal’s short tenor and a rough issuance backdrop led to tepid investor response.

Shanghai Pudong Development Bank (SPDB) leaned on a large syndicate team to sell a dual-currency bond that was mainly bought by other Chinese banks.

Genertec Universal Medical Group, a Hong Kong-listed healthcare services company, has received strong response during syndication for its latest loan.

Chinese online human resources service provider 51job has raised a $1.825bn term loan from two banks to support its take-private.

The recent round of M&A and leveraged buyout financing provided by Chinese banks shows their growing ambition in the more complicated and riskier part of Asia’s loan market.

Chinese state-owned company Genertec Universal Medical Group has returned to the loan market to syndicate a $700m-equivalent deal.

Chinese department store operator Golden Eagle Retail Group has closed a $601m-equivalent refinancing loan with 15 lenders.

China Industrial Securities Co priced its $300m bond at a tighter level than expected due to support from its hefty syndicate team, defying concerns even among some of the banks on the transaction whether the issuer would hit its funding target.

Lippo Malls Indonesia Retail Trust printed a $200m bond on Tuesday, with investors largely brushing off concerns about the hit to the borrower's business during the pandemic.

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.

Two Chinese banks have agreed to arrange a $1.1bn loan to support China Biologic Products Holdings’ delisting from the Nasdaq stock exchange.

Government-backed Chinese issuers Shandong Hi-Speed Group Co, Wuhan Trading Group and a local government financing vehicle from Xi’an ventured to the offshore dollar bond market on Thursday. They raised a combined $880m.

Chinese biopharmaceutical firm RemeGen will close the international orderbook for its Hong Kong IPO early as the deal is already many times covered, according to a source close to the listing.

Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

Chinese biotechnology firm JW (Cayman) Therapeutics is set to close the book for its Hong Kong IPO on Tuesday, a daily earlier than planned, according to a source familiar with the matter.

Chinese property developer Country Garden has closed a $1.5bn-equivalent dual currency loan, attracting seven participants during syndication.

JW (Cayman) Therapeutics set its IPO in motion on Thursday, opening the order book for the up to HK$2.3bn ($300m) deal.

JW (Cayman) Therapeutics has launched pre-deal investor education for its Hong Kong IPO, setting the final stage of the deal ahead of launch in motion.

Neusoft Education Technology, a Chinese private higher education provider, hit the road with its Hong Kong IPO this week, aiming to raise HK$1.04bn ($133.8m).

Bond sales from Chinese issuers continued unabated on Thursday despite heavy supply in the first half of the week, with firms raising a combined $1.1bn from the debt market.

Henan Water Conservancy Investment Group sold its maiden $500m bond on Tuesday, adding to the high grade supply from China’s local government financing vehicles (LGFVs). But its deal was not easy, with the issuer having to navigate a handful of obstacles.

Bank of Communications Financial Leasing has returned to the loan market, inviting banks to join a $300m three year green deal.

ABC International Holdings took advantage of receptive market conditions to make a rapid return to the bond market this week.

Huangshan Tourism Group Co opted for euros for its maiden offshore bond. The €230m transaction benefited from a standby letter of credit from Bank of China’s Anhui branch, as well as strong bookrunner support.

Shandong Commercial Group Co followed its Chinese state-owned peers into the dollar market on Tuesday, but found limited support from investors for its $180m unrated bond.

Shandong Guohui Investment Co relied heavily on its 20-strong syndicate group to seal a tightly priced $400m bond.

China Jianyin Investment (JIC) and Nanjing Jiangbei New Area Industrial Investment Group were among two Mainland Chinese companies to sell dollar bonds on Thursday.

Yangzhou Urban Construction State-Owned Assets Holding (Group) Co continued the tight pricing trend for recent bonds from Chinese local government financing vehicles with a 68bp tightening.

Yunnan Provincial Energy Investment Group Co added a dash of variety to bond supply from China’s local government financing vehicles, by selling a $300m dual-tranche deal that combined a senior unsecured portion with an unsubordinated perpetual.

Chinese local government financing vehicle (LGFV) Shandong Guohui Investment Co used its leasing arm to return offshore for $200m on Wednesday.