Greater China

Gangfeng Lithium Co, the world’s largest lithium metal supplier, raised HK$4.869bn ($628m) from a placement over just two hours of bookbuilding as investors flocked to the Chinese company’s deal.

UniCredit has made a new senior hire in Asia to lead its client activities for South Korea.

Deutsche Bank has hired two former Barclays bankers to support its China business.

New bond issuance from local government financing vehicles in China has taken a beating recently, as Beijing hardens its stance on keeping the country’s ‘hidden debt’ problem under control. But the challenging times are likely just beginning, writes Addison Gong.

Agricultural Bank of China sold a multi-currency deal through its Hong Kong branch this week, raising $1.322bn.

WH Group has turned to banks for about $1.25bn to fund a share buy-back, as the world’s largest pork company takes advantage of attractive market conditions to raise a new loan. Unlike its acquisition fundraising eight years ago, which received plenty of criticism and pushback from lenders, the market’s response this time around is different — despite some initial confusion, writes Pan Yue.

Chinese property company Evergrande Group’s dollar bonds have plummeted in the secondary market, following news that regulators are scrutinising the borrower. The effect has been far-reaching — dampening sentiment for other high yield real estate bonds and putting both investment bankers and investors on guard. Morgan Davis reports.

Countries around the world are announcing all kinds of incentives to encourage people to get vaccinated. But access to alcohol may offer the most appeal.

Chengdu Quanyuantang Pharmacy Chain has started laying the foundation for its Hong Kong IPO, filing initial listing documents with the bourse this week.

Hong Kong department store chain Lifestyle International Holdings returned to the debt market this week after a two-year break to raise $350m.

Kaisa Group Holdings battled a volatile market for Chinese high yield issuers on Tuesday when it kicked off a $280m tap, as news around banks’ exposure to peer property credits rattled investors.

Chinese company Sany Heavy Industry Co has returned to the offshore loan market after a nine-year absence for $600m.