Monday, 16 July 2018

Carol Chan' s stories

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  • A gas injection site of Xiangguosi underground gas storage run by PetroChina is seen in Chongqing, China.

    Default pressures weigh on China bonds

    Top News | 13 July 2018

    More sudden shocks in China’s bond markets sent investors running for cover last week, dealing a further blow to Asia’s fragile US dollar high-yield credit market.

  • Agile flop adds to high-yield woes

    Emerging Markets | 13 July 2018

    Agile Group Holdings, one of the best-known overseas issuers from China’s property sector, pushed its borrowing costs more than 100bp higher last Wednesday as it struggled to complete a modest US$200m new issue in a weak market.

  • China squeezes property bond sales

    Emerging Markets | 29 June 2018

    Chinese property developers are facing tighter scrutiny over their offshore bond sales, after an aggressive fundraising spree triggered a warning from the state planner.

  • China Huarong Asset Management

    China Huarong offshore return shows floater appeal

    Ticker | 27 June 2018

    China Huarong Asset Management, rated A3/A–/A, showed demand continues to be strong for floating-rate paper, as it priced a US$1.1bn triple-tranche US dollar senior unsecured bond offering.

  • China developers rethink call options

    Emerging Markets | 22 June 2018

    A tough primary market and rising funding costs have brought call options on Chinese property bonds into focus, with several issuers planning to skip call dates on offshore bonds.

  • A view of a street is reflected on a glass wall of a building bearing the logo of Industrial and Commercial Bank of China (ICBC) in Beijing.

    ICBC Asia prints first Green bond from a HK lender

    Ticker | 14 June 2018

    Industrial and Commercial Bank of China (Asia), rated A2/A (Moody’s/S&P), printed the first Green bond from a Hong Kong-registered bank.

  • Staff members set up Chinese and U.S. flags for a meeting

    Default watch for offshore China debt, as CERCG misses payment

    Top News | 01 June 2018

    Nervous investors sent several Chinese high-yield bond issues tumbling last week after warnings of rising default rates triggered a guessing game over the next company to run into trouble.

  • A Chinese national flag flutters at the headquarters of a commercial bank on a financial street near the headquarters of the People's Bank of China, China's central bank, in central Beijing.

    BOC prints first Sustainability bonds by a Chinese issuer

    Ticker | 01 June 2018

    Bank of China yesterday became the first Chinese issuer of Sustainability bonds, whose proceeds will be used to fund projects with environmental and socio-economic benefits.

  • He Lifeng, Chairman of China's National Development and Reform Commission, speaks at the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China.

    China offshore debt rush accelerates

    Top News | 18 May 2018

    Dozens more Chinese companies are lining up to sell offshore bonds, adding to the pressure on a market already buckling under the weight of supply.

  • Floaters back in favour as rates head higher

    Emerging Markets | 11 May 2018

    Floating-rate US dollar bond offerings from Asian issuers enjoyed enthusiastic responses from investors and outperformed fixed-rate bonds in the secondary market amid expectations of further rate increases from the US Federal Reserve.

  • Hong Kong details scheme to boost bond issuance

    People & Markets | 11 May 2018

    The Hong Kong Monetary Authority last week announced details of a three-year pilot grant scheme to encourage more companies to issue bonds in Hong Kong for the first time.

  • Top SOEs dodge volatility

    Emerging Markets | 27 April 2018

    China’s top-tier state enterprises kept up the pace of offshore bond issues last week despite a spike in US Treasury yields, underlining the value of a loyal following in volatile market conditions.

  • A logo of Huawei is seen during the Mobile World Congress in Barcelona, Spain.

    Iran probe scuppers Huawei's euro debut

    Top News | 27 April 2018

    Chinese technology company Huawei Investment & Holding called off its first euro-denominated bond issue late on Wednesday following reports of a US investigation into its dealings with Iran.

  • Huawei

    Iran probe scuppers Huawei's first euro bond

    Ticker | 26 April 2018

    Chinese technology company Huawei Investment & Holding called off its first euro-denominated bond issue late on Wednesday following reports of a US investigation into its dealings with Iran.

  • China property bond yields rise

    Emerging Markets | 20 April 2018

    Heavy supply from the Chinese property sector kept the pressure on yields last week as 12 developers issued about US$5bn of offshore bonds.

  • Bank of China prices latest BRI jumbo

    Emerging Markets | 13 April 2018

    Bank of China, rated A1/A/A, has printed US$3.2bn of bonds in four currencies to support projects under China’s Belt and Road Initiative.

  • Upgrades boost property bond rush

    Emerging Markets | 13 April 2018

    Seven Chinese property developers tapped international investors for a combined US$3.88bn last week, capitalising on improving sentiment towards the industry and a slew of recent credit upgrades.

  • Issuers rush to beat NDRC clock

    Emerging Markets | 29 March 2018

    Chinese issuers rushed to sell bonds last week ahead of the expiry of their offshore debt issuance quotas at the end of the quarter, but met with mixed results.

  • Chinese SOEs pay up for perps

    Emerging Markets | 09 March 2018

    Facing the prospect of further regulatory pressure to trim debt, three Chinese state-owned enterprises issued perpetual bonds last week despite poor market conditions and a hefty price tag.

  • China property bond rush resumes

    China property bond rush resumes

    Top News | 02 March 2018

    Chinese property companies were back in the international markets last week with a vengeance, with 10 new issues piling pressure on an already weak primary sector.

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