Asia Pacific

Dollar bonds from high yield Chinese real estate companies tightened in the secondary market on Tuesday, after plummeting in the run up to the Lunar New Year break amid news from firms under liquidity pressure.

Coupang, an e-commerce company, is planning a $1bn IPO in the US as it gets ready to become the first South Korean firm to list in New York in 10 years.

Thai Union Group, a seafood producer, has raised its first sustainability-linked loan of Bt12bn ($401m)-equivalent from the Thai and Japanese markets.

Mainland China-listed Joinn Laboratories has begun bookbuilding for its up to HK$6.54bn ($843.9m) Hong Kong IPO, becoming one of the first companies to hit the equities market following the Chinese New Year break.

Global financial institutions will focus more on their home markets amid a sharp fall in funding requirements this year, leaving sterling credit investors yearning for more supply from overseas FIG issuers.

India’s well-established renewable energy companies have long been known for selling green bonds, but this week showed that new issuers are ready to join the fray — not just with green deals, but also with sustainability-linked transactions. Morgan Davis reports.

Six Chinese companies sold Rmb6.4bn ($994m) of ‘carbon neutrality bonds’ this week, supporting Beijing’s goal of net zero carbon dioxide emissions by 2060. The format could lead to a spike in international investor interest in China’s debt market. Addison Gong reports.

Hong Kong’s Securities and Futures Commission (SFC) is planning to bring in sweeping changes to rules governing equity and bond deals, requiring syndicate teams to be fixed earlier and fee structures to be disclosed. The moves have divided bankers. Jonathan Breen and Morgan Davis report.

New Horizon Health, a medical device manufacturer, has scooped up HK$2.04bn ($263.4m) from its IPO after strong institutional investor demand pushed pricing up to the top of the marketed range.

Nominative determinism has come up in Taipan before. But not everyone can love thy fate.

JPM appoints Aus ECM co-heads — StanChart rejigs CCIB team — PGIM hires for Korea fixed income team

Chinese cloud-based communications provider Cloopen Group Holdings saw its stock price triple on the first day of trading, after sealing a $320m IPO above the marketed range.