Asia Pacific

Industrial and Commercial Bank of China (ICBC) has received the nod to head offshore for capital, at a time when most of its peers have been tapping the liquid domestic market for funds.

Chinese pharmaceutical company WuXi AppTec Co is planning to raise primary equity through an issue of H-shares and its Shanghai-listed A-shares.

A former joint head of the IPO vetting team in the Hong Kong Stock Exchange's listings department has been charged with bribery and misconduct while in office.

Chinese real estate developer Xinhu Zhongbao Co sold a club-style dollar bond on Tuesday, becoming one of the few Asian issuers to have come to the market in recent days. While a pipeline of deals builds up, many are unwilling to launch transactions amid the volatility.

Dai Quang Minh Corp, the real estate arm of Vietnamese carmaker Truong Hai Auto Corp, has opened a $130m loan into general syndication.

A group of 23 banks and 12 securities houses completed 154 renminbi interest rate option (IRO) transactions worth Rmb12.8bn ($1.81bn) on Monday. The new derivatives product is viewed as a solid step for China’s interest rate reform.

Indian banks and corporations hoping to fund in the offshore loan market were already facing difficult questions, following a wide-ranging clean-up of the country’s financial system. They are now facing a worse problem: the spread of Covid-19.

China’s Xiaomi Corp is planning to print a Rmb1bn ($141m) private placement Panda bond next week, in what will be the smartphone and appliances maker’s first outing in the onshore bond market.

South Korea's Shinhan Bank is hoping to sell a public dollar bond in April, following a virus-linked $50m private placement this month.

China’s top regulators went above and beyond expectations over the weekend in providing reassurance that the country’s markets are on solid footing. While this was helpful, more action to support companies falling through the cracks is sorely needed.

These are testing times for corporations around the world as they find ways to navigate the impact of the Covid-19 pandemic on their businesses and debt profiles. Now more than ever, transparency from borrowers is absolutely key.

Chinese property management company Redsun Services Group is planning a Hong Kong listing that could raise up to $100m, according to a source familiar with the matter.