Asia Pacific

Chinese real estate company Cifi Holdings (Group) Co returned to offshore renminbi bonds this week, raising Rmb1.2bn ($172.8m) from the biggest dim sum deal from a corporation in more than a year.

China Great Wall Asset Management Co reopened bond supply from the country's bad debt managers this week with a tightly priced $500m deal.

After months of lockdown in countries across the world, a few of my banker friends are now slowly heading back to their offices. It is not easy.

ABN Amro plans to quit corporate banking outside Europe, except for clearing, and also exit trade and commodity finance in a shake-out of its corporate and investment banking activities.

Hangzhou Qiantang New Area Construction and Investment Group Co, a Chinese local government financing vehicle (LGFV), found strong support from banks for its maiden dollar bond, allowing it to tighten price guidance by 70bp during the day.

Hong Kong-based Li & Fung used a coupon step-up in case of a rating downgrade to attract investors to its $300m bond on Tuesday, as it gears up for a big hit to its business this year as a result of Covid-19.

Redco Properties Group returned to the dollar market with a sub-one year bond on Tuesday, two weeks after using up its offshore issuance quota.

Chinese property developer Fantasia Holdings Group Co reopened a bond initially sold three years ago in a bid to lower its funding costs, taking $200m from the tap.

Vistas Media Acquisition Co (VMAC) has raised $100m after listing on the Nasdaq. It plans to use the funds for M&A in the media and entertainment industry.

InterGlobe Aviation is looking to raise up to Rp40bn ($535.4m) from a placement of new stock.

Moody’s Corp has acquired a minority stake in credit rating agency Malaysian Rating Corp (MARC), giving the US firm additional access to Malaysia’s domestic bond and sukuk markets.

Chinese property developer Yanlord Land Group has increased the size of its latest borrowing to $1.1bn-equivalent after receiving strong response during syndication.