UBS

Future Land Development Holdings got a head start on other high yield issuers gearing up to hit the bond market this week, raising $300m on Monday at a level that was 37.5bp inside initial guidance.

Better late than never. After a sluggish start to the year, international activity in the Swiss franc market finally began in mid-week when Westpac priced the first Australian covered bond in Swissies since a Sfr200m National Australia Bank (NAB) trade in January 2014.

Zhenro Properties Group bagged $200m from a short-dated bond on Tuesday — being strategic with its choice of a 363-day tenor, while also finding an opportunistic issuance window on a day market sentiment was on a high.

Seazen Holdings, previously known as Future Land Holdings, and Powerlong Real Estate raised $500m between them on Monday for near-term refinancing, with positive market sentiment allowing them to price their bonds tightly.

China Aoyuan Group stayed a step ahead of its property peers by raising a comfortable $275m from a tap of its 2021 notes on Thursday, one of two dollar bonds to be priced in Asia so far in the new year.

Several Chinese borrowers ventured into the bond market at the end of December, locking up last-minute deals that were mainly supported by anchor orders.

Futu Holdings, parent of Hong Kong-based Futu Securities International, is planning a Nasdaq IPO of up to $300m.

Russian Copper Co (RCC) has closed a $250m five year credit facility, marking the second refinancing that RCC has secured this year. The tight margin sparked a sliver of optimism in the market.

Cromwell European Real Estate Investment Trust (CEReit) has wrapped up a well-oversubscribed rights issue, raising €224.1m to fund the acquisition of various properties across Europe.

Shanghai Henlius Biotech has joined a growing pipeline of biotechnology firms planning to float in Hong Kong. It wants to list in the first quarter of 2019, said a banker working on the transaction.

Shanghai Junshi Biosciences has raised HK$3.08bn ($394.2m) after pricing its IPO at the bottom of the range, according to a banker on the deal.

Fantasia Holdings Group Co locked up a final dollar deal of the year on Thursday, but paid a generous 15% yield to secure anchor orders for the transaction.