Asia Pacific

ICBC Financial Leasing Co chose price over size for its first outing to the dollar bond market this year, but still managed to raise a larger-than-expected $900m.

Hong Kong property company Hysan Development Co used a fixed-for-life structure for its $300m perpetual bond on Tuesday, taking advantage of the low interest rate environment to lock in pricing.

Nasdaq-listed Futu Holdings, parent of Chinese online brokerage Futu Securities, has raised $313.5m from a follow-on offering, hitting the market on the back of a more than 200% surge in its share price this year.

Hong Kong-listed financial leasing firm Far East Horizon has exercised part of a greenshoe option on its loan to boost the deal to $1.29bn-equivalent.

Hong Kong’s mortgage loan provider Lei Shing Hong Credit has closed a $330m-equivalent deal with 11 lenders.

Environmental, social and governance investors are taking an interest in companies' supply chains at last. It is important they do this in a sophisticated way and think deeply about the potential repercussions. Getting supply chains wrong could have devastating consequences.

Signs are growing that Western companies may be on the verge of a wave of moving manufacturing from China to other emerging markets and ‘re-shoring’ them to the home country, a trend that could have profound implications for markets and international politics.

Cash-strapped Chinese conglomerate HNA Group is once again deferring interest payments on a domestic perpetual bond. The move comes amid rising expectations of more coupon delays and failure by borrowers to redeem their onshore perps on the call dates, writes Addison Gong.

Metals and mining firm Vedanta Resources’ $1.4bn bond this week took it one step closer to the planned delisting of a subsidiary. But the company took an unusual approach to the deal — a rare bond outing for a take-private in Asia — by offering investors a secured and callable amortising bond. Morgan Davis reports.

Chinese real estate developer Shui On Land sealed a slightly larger than anticipated $500m bond on Monday, despite issuing a profit warning earlier this month.

Renminbi-denominated bonds of Chinese state-owned Brilliance Auto Group, the joint venture partner of BMW in the Mainland, have recently plummeted in the secondary market.

Chinese state-controlled Irico Group New Energy, a solar cell glass maker, has raised HK$2bn ($260.1m) from a dual placement of primary H-shares.