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  • China’s Yihua Enterprise Group Co has defaulted on yet another onshore bond, having recently extended payments on two deals that were set to mature this month.
  • Yorkie Wong, head of investment banking at Shanghai Pudong Development Bank, has left the firm.
  • A new scheme launched by China’s National Equities Exchange and Quotations (Neeq) got off to a poor start this week. Around two-thirds of the 32 companies listed on the ‘selection tier’ board fell on their trading debuts. That was a sharp contrast to the opening day of a local rival, the Shanghai Star board.
  • Ant Group revealed last week that it is planning a multi-billion-dollar dual listing in Hong Kong and Shanghai. The company is often referred to as a startup, but it will float at a valuation well above $100bn and has been in business for six years. What is the right term for a company like Ant? It is time for a new moniker.
  • Korea South-East Power Co (Kosep) has printed a $300m sustainability bond, in part to tackle the impact of Covid-19, becoming the third issuer from the country to tap the socially responsible investment market this month.
  • China Everbright Bank Co relied on the syndicate team running its deal for a $700m floating rate note on Monday.