Asia Pacific

Chinese property and construction firm Jiangsu Zhongnan Construction Group Co raised $200m from a sub-one year bond deal on Tuesday

Singaporean property company UOL Group has raised a $120m green loan that will help fund the transformation of one of its hotels into a green building.

Chinese electric vehicle maker Li Auto has brought forward the close and pricing of its up to $950m Nasdaq listing after securing heavy demand for the deal.

Chinese pharmaceutical company WuXi AppTec has raised HK$7.37bn ($950.4m) of fresh equity, in a hotly-anticipated tap of a new mandate to issue A-shares and H-shares.

China’s Yihua Enterprise Group Co has defaulted on yet another onshore bond, having recently extended payments on two deals that were set to mature this month.

Yorkie Wong, head of investment banking at Shanghai Pudong Development Bank, has left the firm.

A new scheme launched by China’s National Equities Exchange and Quotations (Neeq) got off to a poor start this week. Around two-thirds of the 32 companies listed on the ‘selection tier’ board fell on their trading debuts. That was a sharp contrast to the opening day of a local rival, the Shanghai Star board.

Ant Group revealed last week that it is planning a multi-billion-dollar dual listing in Hong Kong and Shanghai. The company is often referred to as a startup, but it will float at a valuation well above $100bn and has been in business for six years. What is the right term for a company like Ant? It is time for a new moniker.

Korea South-East Power Co (Kosep) has printed a $300m sustainability bond, in part to tackle the impact of Covid-19, becoming the third issuer from the country to tap the socially responsible investment market this month.

China Everbright Bank Co relied on the syndicate team running its deal for a $700m floating rate note on Monday.

Hong Kong-based Chong Hing Bank’s $250m Basel III-compliant additional tier one (AT1) bond received just muted demand from investors because of its tight pricing approach.

DaFa Properties Group raised $150m from its bond return on Monday, offering investors a hefty yield of 13.5%.