Greater China

Guotai Junan Securities Co faced a choppy market backdrop to price a $500m bond on Wednesday, becoming one of only a handful of Chinese issuers to head offshore this week.

South Korean issuer Hanwha Solutions Corp debuted in offshore renminbi (CNH) on Tuesday, pricing a Rmb1bn ($153m) green bond that benefitted from a guarantee from the Asian Development Bank’s Credit Guarantee and Investment Facility.

Chailease International Leasing Co, a Vietnam-based subsidiary of Taiwan’s Chailease Finance, is gearing up to launch an up to $100m loan.

Fears around the health of China Huarong Asset Management Co have spooked investors this week and taken a toll on Asia’s bond market. The bad debt manager’s dollar bonds have tumbled, bringing new issuance from China to a near halt and putting pressure on other state-linked credits in the secondary market.

MUFG Bank has appointed Johnson Yuan as deputy president for its wholly owned subsidiary MUFG Bank (China).

Chinese financial technology company Ant Group Co will transform itself into a financial holding company as part of a government mandated restructuring that will affect its key payments, consumer lending and wealth management businesses.

An affiliate of department store Sogo Hong Kong has returned to the loan market for a HK$8bn ($1bn) deal to refinance a borrowing from 2016.

Metallurgical Corporation of China navigated tricky bond market conditions to raise $500m on Monday at a negative new issue premium, thanks to its standing among investors and the scarcity of state-owned perpetual deals.

Dongfeng Peugeot Citroen Auto Finance Co is set to come to China’s auto ABS market for the first time since 2017 with a Rmb2.201bn ($336m) transaction that will be launched later this week.

Alibaba Group Holding’s shares in Hong Kong closed 6.51% higher on Monday, despite news over the weekend that the technology giant will be hit with a record fine of Rmb18.22bn ($2.8bn) by China’s regulators.

Zhao Sheng Law Firm, Linklaters’ China joint operating partner, has named two new partners.

Keymed Biosciences has started laying the groundwork for a planned Hong Kong IPO by filing its initial listing documents with the city’s exchange.