China

Crédit Agricole has picked banks to run a planned senior preferred Panda bond, its third outing in the format. An investor call has been scheduled for next week.

SciClone Pharmaceuticals, which manufactures a possible treatment for the coronavirus, hit the IPO market with a HK$2.18bn ($281.2m) offering on Friday.

Ping An Insurance has raised $250m from the first offshore bond from China following the Lunar New Year holiday. It was also the only borrower from Asia ex-Japan to hit the dollar debt market this week.

In this round-up, consumer inflation in China disappoints in January, lenders extend a record amount of new renminbi loans last month, and the banking and insurance regulator asks financial institutions to step up their reputational risk management.

A recent bout of volatility in the secondary trading of Chinese high yield bonds means supply from lower-rated credits is expected to remain muted over the next few weeks. While stability has returned to the debt market, investors remain cautious, writes Morgan Davis.

The logistics unit of Chinese internet company JD.com is planning to list in Hong Kong through a multi-billion-dollar IPO.

Japan's NEC Corp offloaded its remaining stake in Hong Kong-listed Hua Hong Semiconductor on Tuesday, raising HK$5.69bn ($733.9m).

Chinese teahouse chain Nayuki Holdings has set its Hong Kong IPO in motion, having dropped an earlier plan to list in the US.

Dollar bonds from high yield Chinese real estate companies tightened in the secondary market on Tuesday, after plummeting in the run up to the Lunar New Year break amid news from firms under liquidity pressure.

Mainland China-listed Joinn Laboratories has begun bookbuilding for its up to HK$6.54bn ($843.9m) Hong Kong IPO, becoming one of the first companies to hit the equities market following the Chinese New Year break.

Six Chinese companies sold Rmb6.4bn ($994m) of ‘carbon neutrality bonds’ this week, supporting Beijing’s goal of net zero carbon dioxide emissions by 2060. The format could lead to a spike in international investor interest in China’s debt market. Addison Gong reports.

New Horizon Health, a medical device manufacturer, has scooped up HK$2.04bn ($263.4m) from its IPO after strong institutional investor demand pushed pricing up to the top of the marketed range.