Greater China

China’s Immunotech Biopharm has applied for listing approval in Hong Kong, aiming to raise more than $100m from its IPO, according to a source familiar with the matter.

In this round-up, Covid-19 infections have spread across the world at an alarming speed, the Chinese central bank did not follow its US counterpart to lower interest rates, and the media row between the two countries has deepened.

Metallurgical Corp of China (MCC) took advantage of investors’ desperation for yield and strong credits this week, selling a subordinated perpetual bond worth $400m.

China Hongqiao Group, China Water Affairs Group and Luxshare Precision has returned to the offshore loan market seeking a total of $800m.

China has launched a streamlined system for corporate bond issuance. The move should be applauded — but it further muddies the waters in China’s regulatory system, writes Rebecca Feng.

Volkswagen Finance (China), wholly owned by Volkswagen Financial Services AG, will come to the onshore securitization market for a Rmb5.97bn ($860m) transaction on March 12.

Mexico’s state-owned electric company Comisión Federal de Electricidad (CFE) turned to Taiwan’s bond market this week to sell a dollar bond — its latest foray into the Formosa bond market.

Apologies millennials, but not everything needs to come with an added perk. Whatever happened to banking being boring?

Chinese property developer Jingrui Holdings made its first dollar outing of 2020 on Wednesday, raising $180m from the bond.

Sinic Holdings (Group) Co and JY Grandmark Holdings made their debuts in the dollar bond market on Wednesday. Both issuers opted to use a 364-day tenor to get the deals done.

Has Zhongrong Xinda Group Co, a Chinese bond issuer, missed a coupon payment? That was the impression given by the Shanghai Clearing House this week. But on the same day, the issuer said it had, in fact, repaid the money — privately.

China Hongqiao Group, an aluminium producer, has returned to the loan market for a $200m borrowing,