Asia Pacific

Chinese online travel giant Trip.com Group is set to launch bookbuilding for its Hong Kong secondary offering this week, after getting the go ahead from the city’s bourse.

China Huarong Asset Management Co’s dollar bonds have been hit in the secondary market, following an announcement that the company’s 2020 annual results are delayed. But analysts have warned against reading too much into the postponement, saying it could signal positive developments at the firm.

Defaulted bond issuer Kangde Xin Composite Material Co is expected to be delisted from the stock exchange of Shenzhen next month, a move that will end an over two year probe by Chinese regulators into the company.

Chinese electric vehicle maker Li Auto has launched its debut convertible bond, aiming to raise $750m amid a rebound in US stock markets.

Hong Kong Broadband Network has returned to the loan market for a HK$5bn ($643m) deal for refinancing.

Three banks jumped into the euro senior market after the Easter break on Tuesday, benefitting from stable demand and printing with low new issue concessions.

Linklogis has priced its Hong Kong IPO above the mid-point of the price guidance, netting HK$7.96bn ($1.02bn), according to a source close to the deal.

Singapore’s stock exchange has launched a consultation about proposed rules on special purpose acquisition companies.

Chengdu Jiaozi Financial Holding Group Co priced an ultra-tight $200m bond on Wednesday, turning to a group of largely Chinese banks for a club-style transaction.

China-based Fortune Auto Finance Co will launch a Rmb2.5bn ($381.5m) auto loan ABS transaction next week, the company’s first deal with an international rating. Meanwhile, Dongfeng Nissan Auto Finance Co is returning to the onshore market with a larger Rmb4.4bn trade.

ReNew Power, a regular issuer from India's renewable energy sector, raised $585m this week from another green bond – and another complex structure.

Chinese property developer Logan Group Co has returned to the dollar bond for the second time this year. It was forced to navigate a much more difficult market this time – and ended up paying around 20bp over fair value.