Asia Pacific

Zhongyuan Yuzi Investment Holding Group Co has become the first Chinese local government owned firm from Henan to price an offshore bond since the high-profile default of another issuer from the same province last November.

In this round-up, China’s industrial profit growth moderates in May, Geely Automobile Holdings will not pursue a planned listing on the Star market in Shanghai, and Beijing approves the first onshore perpetual bond from a policy lender.

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

Singapore's DBS Bank has launched a digital bond issuance platform featuring software from Nivaura that will allow issuers to launch deals at the click of a button.

SCE Intelligent Commercial Management has raised HK$1.85bn ($238.3m) after pricing its IPO at the bottom of the guidance range.

Xpeng has kicked off its Hong Kong secondary listing, the first from a Chinese electric vehicle maker.

GLP China Holdings issued an offshore renminbi bond this week, raising Rmb1.2bn (Rmb185m) from the three year deal.

Shui On Land became the first Chinese corporate borrower to sell a sustainability-linked bond (SLB) this week — a move that worked to its advantage.

Chinese ride-hailing firm Didi Chuxing has launched its New York Stock Exchange IPO, aiming to raise $4.03bn from the largest China-into-US listing since Alibaba Group Holding’s jumbo $25bn deal in 2014.

Investors pumped more than $8bn in orders for Shenzhen Expressway Co's $300m capped bond on Thursday, with the Chinese issuer benefitting from its rarity value in the debt market and the stability of its business.

Indian Oil Corp is planning a return to the syndicated loan market after almost three years, sending out a request for proposals for a new borrowing.

Three covered bonds issued this week from Korean Housing Finance Corp, Caffil and Oberbank were well received, but they would not have made it over the line without attractive new issue concessions.