Asia Pacific

The Bank of England has said it may be necessary to make ‘temporary changes’ to capital buffers in the UK, owing to concerns that the existing framework could discourage banks from lending during the coronavirus pandemic.

The resilience of China’s property market amid the Covid-19 pandemic is paying off for many of the country’s bond issuers, which have been able to reprice their secondary curves owing to strong investor support, writes Morgan Davis.

Holders of Chinese property developer Tahoe Group’s onshore bonds had to face up to two defaults from the company this week, as uncertainty looms over whether a tie-up with its peer China Vanke Co will eventually go ahead. Addison Gong reports.

Hope Education Group made its debut visit to the equity capital market this week, raising HK$1.2bn ($153m) after increasing the size of a primary share placement.

Ian Taylor has rejoined Goldman Sachs, as head of equity capital markets for Australia and New Zealand, following a short stint at a fintech-focused merchant bank in the US.

Investors threw their weight behind Housing Development Finance Corp's Rp140bn ($1.87bn) fundraising this week.

Social distancing, wearing masks in public, bars and restaurants shutting down en masse: the coronavirus is a gift to those trying to avoid people.

Recycling aluminium manufacturer Ye Chiu Group has returned to the loan market after a four year absence for a $150m deal to meet its refinancing needs.

CMB Financial Leasing Co returned with five year and 10 year dual-tranche bonds on Wednesday, selling the first decade bond from a Chinese FIG credit in more than a month as costs for longer-dated notes fall.

Chinese real estate borrowers swarmed the international bond market on Wednesday, raising a combined $1.05bn across four transactions.

The case of O’Donnell versus the Australian Commonwealth, if successful, could force all issuers seeking to make use of the Australian bond market to make thorough disclosures of their climate strategy.

Chinese local government financing vehicle (LGFV) Yiwu State-owned Capital Operation Co replicated its peers’ recent bond pricing success, to raise $500m with a 65bp price tightening during bookbuilding.