时隔6年，华润置地再启美元债融资。 华润置地近日发布公告称，已向香港联交所申请批准39亿美元中期票据计划于2025年11月10日后12个月上市，仅以向专业投资者发行债务的方 式发售，安排行及交易商包括中国银行、星展银行、汇丰、农银国际、建银国际、美银证券。 在内地房企境外融资愈发慎重的当下，头部央企重启发行美元债，是具有积极意义的信号。华润置地上一次发行美元中期票据是2019年11月， 其时，华润置地向联交所申请批准39亿美元中期票据计划上市，票据仅向专业投资者发行。 今年以来，房企境外融资在经历短暂停滞后，出现了转机。今年2月，绿城中国成功发行5亿美元债，新城发展也紧随其后在今年6月、9月分别 发行美元债，目前运营状况相对良好的房企在境外发行美元债的渠道已经基本重启。 央企下场试水 华润置地此次发行的中期票据，在头部央企阵营中也是近三年来的首次。中海地产上一次发行美元债是在2019年，保利发展、招商蛇口则几乎 未在境外进行美元债融资。 从发行规模来看，华润置地39亿美元的额度也在房企所发行的美元债中数一数二。横向对比其他房企，中海地产、越秀地产等国央企在境外发 行美元债通常额度不超过10亿美元，华润置地此次 ...

Core Viewpoint - Samsonite Finco has issued €350 million of senior notes with a 4.375% interest rate maturing in 2033, and the company has completed a new senior credit facility arrangement [1] Group 1 - The total principal amount of the senior notes issued is €350 million [1] - The interest rate for the senior notes is set at 4.375% [1] - The maturity date for the senior notes is in 2033 [1] Group 2 - The new senior credit facility was completed on November 6, 2025 [1] - Proceeds from the new senior credit facility and existing cash on hand were used to refinance the senior credit facility and pay related commissions, fees, and expenses [1]

Core Insights - Southbound funds net bought Hong Kong stocks worth HKD 13.641 billion on October 30, with notable purchases in the Tracker Fund of Hong Kong and Alibaba [1] - Continuous net buying trends observed in specific stocks, including SMIC and Hua Hong Semiconductor, indicating investor confidence [3] Group 1: Southbound Fund Activity - Net purchases included Tracker Fund of Hong Kong (HKD 4.633 billion), Alibaba (HKD 0.875 billion), Meituan (HKD 0.805 billion), and others [1] - Net sales included ZTE Corporation (HKD 0.323 billion), Ganfeng Lithium (HKD 0.306 billion), and Tencent Holdings (HKD 0.264 billion [1][3] Group 2: Company-Specific Developments - Alibaba announced a price adjustment for certain cloud server products and signed a strategic cooperation agreement with Haier Group focusing on AI and cloud [4] - Meituan issued five tranches of USD and RMB-denominated senior notes, raising over HKD 23.2 billion for refinancing and general corporate purposes [4] - China National Offshore Oil Corporation (CNOOC) reported revenue of CNY 312.5 billion and net profit of CNY 101.97 billion for the first three quarters of 2025, with a 6.7% increase in oil and gas production [4] - ZTE Corporation reported Q3 revenue of CNY 28.967 billion, a 5.11% year-on-year increase, but a significant decline in net profit by 87.84% [5]

Core Viewpoint - Meituan announced the issuance of various senior notes totaling approximately $1.9937 billion and RMB 7.08 billion, primarily aimed at refinancing existing offshore debt and for general corporate purposes [1] Group 1: Issuance Details - The company plans to issue $600 million of 4.500% senior notes due in 2031 [1] - An additional $600 million of 4.750% senior notes due in 2032 will also be issued [1] - The issuance includes $800 million of 5.125% senior notes due in 2035 [1] - In RMB, the company will issue 2.08 billion yuan of 2.55% senior notes due in 2030 [1] - Furthermore, 5 billion yuan of 3.10% senior notes due in 2035 will be issued [1] Group 2: Financial Implications - The total gross proceeds from the dollar notes issuance will be approximately $1.9937 billion before deducting underwriting commissions and estimated offering expenses [1] - The net proceeds from the RMB notes issuance will amount to approximately 7.08 billion yuan [1]

Core Viewpoint - China Water Affairs (00855) has announced the international issuance of US dollar-denominated senior notes, guaranteed by its subsidiary [1] Group 1: Issuance Details - The company and its subsidiary have entered into a purchase agreement with several banks for the issuance and sale of senior notes totaling USD 150 million, maturing in 2030 with an interest rate of 5.875% [1] - The total proceeds from the note issuance are expected to be approximately USD 148.4 million [1] - The net proceeds will be used to repay certain offshore debts [1] Group 2: Use of Proceeds - The company plans to use all or part of the proceeds from this issuance to finance or refinance eligible green projects, particularly water supply projects, in accordance with its green financing framework [1] Group 3: Listing and Completion - The company has received initial approval from the Singapore Exchange for the listing and quotation of the notes [1] - The issuance is expected to be completed on October 22, 2025 [1]

Core Viewpoint - Baidu Group has completed the issuance of priority notes valued at 4.4 billion RMB, intended for general corporate purposes including debt repayment and interest payments [1] Group 1 - The notes were issued under Regulation S of the Securities Act of 1933, sold to several non-U.S. persons through offshore transactions [1] - The net proceeds from the issuance will be used for general corporate purposes [1] - The company plans to use the funds to repay existing debts and cover interest payments [1]

格隆汇9月8日｜百度(9888.HK)公告，拟发行以人民币计值的优先票据，该等票据的本金额、利率、到 期日及其他条款将在票据发行定价时确定。所得款项净额用作一般公司用途，包括偿还若干现有债务、 支付利息及一般公司用途。 ...

Core Points - Alibaba has initiated an exchange offer for its outstanding senior notes totaling up to $1 billion due in 2030, $1.15 billion due in 2035, and $500 million due in 2054 [1] - The exchange notes are registered under the Securities Act of 1933 and are intended to exchange for an equal principal amount of the outstanding notes [1] - The company clarified that the exchange offer does not represent a new financing transaction and will not generate any proceeds from the exchange [1]

Core Viewpoint - Alibaba-W (09988.HK) has initiated an exchange offer for its outstanding senior notes, aiming to manage its debt profile and optimize its capital structure [1] Group 1: Exchange Offer Details - The company is offering to exchange up to $1 billion of its 4.875% senior notes due in 2030 [1] - Additionally, the exchange includes up to $1.15 billion of its 5.250% senior notes due in 2035 [1] - The offer also encompasses up to $500 million of its 5.625% senior notes due in 2054 [1] Group 2: Regulatory Compliance - The exchanged notes are registered under the Securities Act of 1933 and its amendments [1] - The company is exchanging these notes for an equal principal amount of its outstanding senior notes that are due in the same years [1] - The outstanding notes were issued in a transaction exempt from registration under the Securities Act in November 2024 [1]

Core Viewpoint - Alibaba-W (09988) has initiated an exchange offer for its outstanding notes, which includes a total principal amount of up to $1 billion in 4.875% senior notes due 2030, $1.15 billion in 5.250% senior notes due 2035, and $500 million in 5.625% senior notes due 2054, as part of fulfilling its obligations under a registration rights agreement [1][2] Group 1 - The exchange offer is for the exchange of existing notes for new notes of the same principal amount, and it does not represent a new financing transaction [1] - The terms of the exchange notes are substantially the same as those of the outstanding notes, but the exchange notes will not include transfer restrictions or additional interest provisions due to non-compliance with the registration rights agreement [1] - The exchange offer is valid until October 2, 2025, at 5:00 PM New York City time, unless extended by the company [2] Group 2 - Bids for the outstanding notes must be submitted by the expiration time and can be withdrawn at any time before the expiration [2] - The terms of the exchange offer are detailed in the prospectus filed with the U.S. Securities and Exchange Commission on September 4, 2025 [2]