Greater China

In this round-up, the number of novel coronavirus infections increased by 14,840 in a single day after the Hubei province changed its diagnosis methodology, China has put the former mayor of Shanghai in charge of Hubei amid the prolonged outbreak, and regulators have given the green light to MasterCard’s long-awaited entry to the Mainland market.

Fosun International has returned to the offshore loan market for a $650m refinancing that is being run by a large banking group at the top.

Citic Capital Acquisition Corp has raised $240m from its listing on the New York Stock Exchange. The special purpose acquisition company (Spac) is targeting green and sustainable businesses.

Haitong International Securities Group has closed its club loan at a bigger size of HK$12bn ($1.5bn) after finding support from a group of 19 lenders.

China Communications Construction Company courted investors with two subordinated perpetual notes on Thursday, netting $1.5bn from the transaction.

Asia’s credit markets have held up well despite the news around the spread of the novel coronavirus, with another spate of Chinese issuers pricing bonds that proved a hit with investors.

BMW Automotive Finance is readying a Rmb8bn ($1.15bn) dual-tranche auto loan ABS transaction. The deal, to be sold on February 20, will be the first auto ABS outing in the Chinese market since the Lunar New Year.

OCBC’s PB arm adds wealth planning head in HK – InvIt potential rises – China grants Value Partners advisory licence

Investors rushed into Huaneng Power International’s dual-tranche $600m bond on Wednesday, attracted to the Chinese company’s investment grade rating.

Investors shrugged off concerns about Chinese local government financing vehicles to invest in Yiwu State-owned Capital Operation Co’s $400m bond sale this week. Despite the outbreak of Covid-19 (the coronavirus), there is still interest in mainland government-linked credits and the premium they offer. Morgan Davis reports.

Asian IPOs are suffering as the spread of Covid-19 (the coronavirus) accelerates, with the flow of Chinese listings in Hong Kong having slowed to a standstill. Bankers are looking into any solutions, but the curb of face-to-face contact is hanging over the world’s busiest stock exchange. Jonathan Breen reports.

Agricultural Development Bank of China has sold Rmb14.5bn ($2.1bn) of bonds to combat the Covid-19 (coronavirus) outbreak, including a deal in the dim sum bond market this week. Rebecca Feng reports.