Greater China

Yihua Enterprise Group Co has defaulted on a Rmb1bn ($141m) domestic bond. It blamed the missed interest payment on the Covid-19 pandemic, but its financial health has been in question since last year.

A pair of investors in Chinese hotpot chain Haidilao International Holding sold a chunk of shares in the company on Wednesday, netting HK$1.56bn ($201.3m) from the trade.

Hong Kong-based Sun Hung Kai Properties has tapped the international debt market for the third time this year, raising $500m from a 10 year bond on Wednesday.

China Petrochemical Corp (Sinopec) priced a $3bn bond through its curve on Wednesday after investors flocked to the triple-tranche transaction, leading to a peak book of $23bn.

GlobalCapital and Standard Chartered hosted a virtual roundtable in mid-April to discuss the changes China's high yield issuers have faced in 2020 — and the challenges they will have to contend with for the rest of the year due to the Covid-19 pandemic.

Weimob, a cloud-based commerce and marketing solution provider, has raised $150m through its first outing to the equity-linked market.

Chinese conglomerate HNA Group has missed yet another payment, this time of $750m, on a loan it raised in 2016 to acquire Ingram Micro, a US information technology and products distributor.

Melco Resorts & Entertainment has closed a HK$14.85bn ($1.9bn) revolving credit facility to refinance an old borrowing maturing this June.

Most companies listed on the mainboard of Shanghai Stock Exchange (SSE) saw a rise in their 2019 revenues and profits. They also increased their capital raising activity.

Kingsoft Cloud Holdings is on the road with its up to $450m Nasdaq IPO. Thanks to strong pre-launch demand, it is running a quick three-day bookbuild, according to a source close to the deal.

Hong-Kong based conglomerate CK Hutchison Holdings hit the international bond market with a dual-tranche deal on Tuesday, finding a window to raise $1.5bn.

Peijia Medical is set to close bookbuilding for its HK$2.34bn ($302m) listing early after institutional investor orders flooded the deal.