Asia Pacific

Too many Chinese investors focus on the originator more than the asset pool. That undermines one of the crucial purposes of securitization.

Chinese property developer Logan Group Co courted investors with a six year bond on Monday, raising $300m from a solid order book of $3.3bn.

Suzhou SND Group Co, a Chinese local government financing vehicle (LGFV), got lukewarm support for its debut dollar bond on Monday, forcing it to offer a bit of premium to get its deal past the finish line.

Chinese financial technology company Bairong is targeting Hong Kong for its IPO, having filed a draft prospectus with the city’s bourse.

Philippine company SMC Global Power Holdings Corp added $350m to its coffers from a bond tap on Monday, taking advantage of market stability to return to investors rapidly.

Yongcheng Coal and Electricity Group Co and Tsinghua Unigroup Co, which together have Rmb40bn ($6.1bn) of bonds outstanding in China’s domestic market, have told investors to expect more non-payments this month following a spate of recent defaults.

VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has exercised the greenshoe option to increase the size of its loan to $170m.

Chinese electric vehicle manufacturer Xpeng is selling a chunk of new American Depository Shares (ADS) to fund research and development and further expansion.

Hong Kong’s personal loan provider, United Asia Finance, has returned to the market for its annual borrowing. It is seeking a HK$1.2bn ($154.8m) facility.

UBS’s head of Asia equity capital markets Peihao Huang has resigned from her position. She will join JP Morgan’s ECM team, GlobalCapital Asia understands.

Harbour Biomed has pocketed HK$1.71bn ($220.8m) by pricing its IPO just above the mid point of the marketed range.

Jinan Lixia Holding Group Co came to the dollar bond market at the end of last week, bagging $300m from a three year deal.