Asia Pacific
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UBS has hired from China’s top banking and insurance regulator for a newly created job called China integration lead. -
Citi has raised HK$2.3bn ($300m) from a cash-settled exchangeable bond that uses Chinese property company Longfor Group Holdings as the reference stock, offering the market a rare structure for the first EB in the region this year.
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The Asian Infrastructure Investment Bank has approved a $500m loan to help India combat the Covid-19 pandemic, as the number of cases in the country surpasses 56,000.
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AAA Oils and Fats, the trading subsidiary of Singapore-based palm oil processor and distributor Apical Group, has returned to the offshore loan market for a $900m refinancing.
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Rentenbank jumped into a quiet Kangaroo market on Thursday to print its first Australian dollar bond since August 2019.
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Macau casino operator SJM Holdings is in talks with lenders for covenant waivers on a HK$25bn ($3.2bn) facility, as it faces delays over opening a new resort in Asia’s gambling hub.
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Next week’s Woolworths deal, the first Australian dollar bond from a corporate since the end of February, could be a bellwether for issuance in the market.
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Yihua Enterprise Group Co has defaulted on a Rmb1bn ($141m) domestic bond. It blamed the missed interest payment on the Covid-19 pandemic, but its financial health has been in question since last year.
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A pair of investors in Chinese hotpot chain Haidilao International Holding sold a chunk of shares in the company on Wednesday, netting HK$1.56bn ($201.3m) from the trade.
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Hong Kong-based Sun Hung Kai Properties has tapped the international debt market for the third time this year, raising $500m from a 10 year bond on Wednesday.
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China Petrochemical Corp (Sinopec) priced a $3bn bond through its curve on Wednesday after investors flocked to the triple-tranche transaction, leading to a peak book of $23bn.
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GlobalCapital and Standard Chartered hosted a virtual roundtable in mid-April to discuss the changes China's high yield issuers have faced in 2020 — and the challenges they will have to contend with for the rest of the year due to the Covid-19 pandemic.
