Asia Pacific

If the architects behind the complicated world of bank resolution and prudential capital regulation have proved one thing, it is that the devil is not always in the detail. Sometimes labels matter more.

Dual currency high yield bonds to fund EG Group’s purchase of Woolworth’s petrol stations in Australia hit screens on Tuesday morning, the long-anticipated second slug of a financing part-placed in Australian dollars. The all-bond issue flies in the face of recent market trends, which have seen comparably-rated loans price well inside EG’s initial price thoughts.

Chinese plastic surgery online social network So-Young International has commenced its Nasdaq IPO of up to $179.4m.

Chinese e-commerce platform Yunji Incorporated has set a price range for its issuance of American Depository Shares (ADS) on the NASDAQ board.

Chinese coffee shop chain Luckin Coffee is set to launch an issue of American Depository Shares (ADS) on Nasdaq.

CLSA named Richard Gould as its new chief executive on Tuesday alongside three other senior appointments, a month after losing former CEO Jonathan Slone.

The Asian debt markets have been hit with a number of defaults from Chinese borrowers. China Minsheng Investment Corp (CMIG) has missed bond payments, as has Kangde Xin Composite Material Group.

Viva Biotech Holdings has kicked off bookbuilding for its Hong Kong listing, eyeing proceeds of up to HK$1.52bn ($194m). The firm has secured the support of Chinese state-owned giant Sinopharm.

BMW Group has debuted its first asset backed note (ABN) in China, bagging Rmb2.5bn ($387m) with a three tranche fixed rate deal through its majority-owned subsidiary, Herald International Financial Leasing.

SEG Automotive, a starter motor manufacturer, is tapping the offshore loan market for a €300m dual tranche facility.

Chinese software firm Duiba Group covered the book for its up to HK$900m ($114.7m) IPO on Tuesday morning, just hours after launch, according to a source close to the deal.

Nai Yu Goh, a former loans banker at ANZ, has joined Barclays' loan syndicate desk, according to a source familiar with the matter.