China

Chinese conglomerate HNA Group called an eleventh-hour meeting this week in an attempt to delay a bond that was due to mature just hours later. Investors criticised the company on the call ─ but bankers are still unsure whether the bond has been repaid.

Herald International Financial Leasing, a subsidiary of German carmaker BMW, bagged a Rmb3bn ($425m) dual-tranche asset-backed note on Tuesday, its largest ABN outing yet. Both the senior tranches were priced 100bp tighter than the issuer’s last two outings.

Chinese banks’ eagerness to lend has long allowed the country’s borrowers to get away with razor-thin pricing on their offshore loans. Not anymore.

China’s government has won plaudits for its response to the Covid-19 coronavirus. That praise should extend to its capital markets.

The China Securities Regulatory Commission (CSRC) has penalised two Star market companies for failing to make sufficient risk disclosures in their IPO documents. The duo were among the first batch of 25 companies to list on the Star board.

Akesobio, a Chinese biopharmaceutical firm, has launched an online-only roadshow for its up to HK$2.58bn ($332.9m) IPO amid numerous country-wide lockdowns globally to combat the Covid-19 coronavirus pandemic.

Malaysia's Petroliam Nasional and China's Lenovo Group set the stage for new dollar deals on Tuesday, taking advantage of a rally in Asian bonds and improved investor sentiment despite the growing impact of the Covid-19 coronavirus.

German agency L-Bank steamed into the dim sum bond market on Tuesday to print what could be the start of a new flurry of offshore renminbi issuance.

In this round-up, China's foreign currency reserves decreased by $46bn in March, and non-Chinese institutions continued to add onshore bonds to their books.

WeDoctor, a Chinese healthcare app, has added Citi to the syndicate team of its Hong Kong IPO, GlobalCapital Asia understands.

In this round-up, US president Donald Trump lashes out at the World Health Organization (WHO) for being too ‘China centric’, and the State Council plans to develop more active capital markets and promote e-commerce trades.

The China Securities Regulatory Commission (CSRC) is speeding up the approval process for IPOs and follow-ons for companies impacted by the Covid-19 pandemic, GlobalCapital China understands.