Asia Pacific

Chinese electric vehicle manufacturer Nio hit the US market with a follow-on offering of American Depositary Shares (ADS) on Tuesday.

Shanghai Construction Group Co leveraged on its state ownership to attract investors to a $600m bond that was priced inside of fair value.

Bohai Bank’s Hong Kong IPO application was being considered by the stock exchange’s listing committee on Tuesday, according to a source close to the deal.

Hong Kong-based Lei Shing Hong Credit has added a TaiFX-Libor clause to its new $320m loan, allowing it to offer a margin that is flat to its last transaction.

Hong Kong’s Champion Reit sold a tightly priced $300m bond on Monday, enticing investors with its rarity in the international market.

Korea Electric Power Corp (Kepco) returned to the green bond market on Monday, raising $500m on the back of a book that was 10 times oversubscribed.

Far East Horizon, a Hong Kong-listed financial services firm, has returned to the offshore loan market. It is aiming to raise $1.4bn to refinance two deals maturing this year.

Central China Real Estate and Greenland Holding Group Co raised a combined $900m in the international debt market on Monday.

Hong Kong's Cathay Pacific Airways is planning a HK$11.7bn ($1.5bn) rights issue as part of a multi-billion dollar government-led recapitalisation.

Chinese issuers have been slashing the coupons on their onshore puttable bonds in an attempt to save money. They are playing with fire.

After the global eruption of the coronavirus pandemic, issuers such as governments, central banks and companies have been prompted to create new strategies to tackle the negative effects. Banks have also recently begun issuing labelled bonds linked ot their Covid responses.

Sembcorp Marine is looking to tap shareholders for S$2.1bn ($1.5bn) from a rights issue to help repay debt held by a subsidiary.