Asia Pacific

Cruise ship operator Genting Hong Kong has become the latest Asian company to seek a covenant waiver on a loan as the Covid-19 pandemic hits its operations. A rise in payment deferral requests is putting further pressure on retail banks that are already being forced to take a step back from lending. Pan Yue reports.

At least four issuers are planning to sell Panda bonds in June, GlobalCapital China has learned. Rebecca Feng reports.

Chinese property companies are slowly returning to the dollar bond market, reopening issuance from the sector after a two-month hiatus. Although debt bankers are not predicting a big pick-up in deal flow from these high yield issuers, the lack of supply is giving some borrowers an edge over pricing. Morgan Davis reports.

New York Stock Exchange-listed online gaming company Sea tapped equity-linked bond investors for $1bn this week, following a surge in its share price after it reported strong first quarter earnings.

Bonds are back, baby! Or at least that’s what my banker friend is telling me.

SK Biopharmaceuticals is set to reopen the South Korean IPO market with a W959.3bn ($779.9m) listing, according to a source close to the deal.

Henderson Land Development Co took advantage of the strong aftermarket performance of recent bonds sold by its Hong Kong peers to raise $300m from investors on Wednesday.

China’s Hope Education Group is making its debut in the offshore loan market for a $200m borrowing.

Taiwanese electronic components manufacturer Yageo Corp bagged $180m on Tuesday after boosting the size of a five year zero-coupon convertible bond, according to a source familiar with the matter.

Property company HongKong Land made a rare appearance in the dollar bond market on Tuesday, ending a six year hiatus with a $600m trade.

Chinese property borrowers are back in the bond market, following the success of Zhenro Properties Groups’ $200m deal last week. But Tuesday’s issuers — Country Garden Holdings Co and Redco Properties Group — saw two different outcomes, as they grappled with an illiquid secondary market and difficult pricing levels.

Genting Hong Kong, a cruise ship operator, has sent out a waiver request to lenders to postpone the principal payments on a $300m loan, as it navigates challenges posed by the Covid-19 pandemic.