Greater China

Huawei Investment & Holding Co's dollar bonds took a beating on Thursday morning following news of the arrest of its chief financial officer in Canada.

Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have approached retail lenders for a joint borrowing of $200m.

Chinese local government financing vehicle Huzhou Communications bagged Rmb500m ($73.1m) this week in its first offshore renminbi offering.

Policy lender China Development Bank printed a dual-currency, three-tranche transaction on Tuesday, raising $2.4bn-equivalent. While it paid just a couple of basis points of new issue premium for the dollar bonds amid a short-lived market rally, demand for the euro portion exceeded expectations.

Patrick Kwan, the former co-head of Barclays’ investment banking unit in Asia, has returned to the banking industry with Credit Suisse.

Zhuji Development, a Chinese local government financing vehicle from the Zhejiang province, has made its international bond debut with a well-anchored deal.

The meeting between US president Donald Trump and China’s Xi Jinping during the G20 summit resulted in a trade war ceasefire, giving capital markets a temporary breather from the threat of a fresh tariff outbreak. Asia’s debt and equity issuers should pounce on the opportunity.

Investor demand for more new issue premium forced China’s Citic Securities Co to price a smaller-than-expected $300m bond on Monday.

China Vanke Co rode the positive momentum that followed the truce in the China and US trade war, raising $630m after an aggressive tightening in price. But the movements in the US Treasury market, including a curve inversion between three and five year notes, hit the secondary performance of the company’s bond.

Chinese online consumer lender 360 Finance is preparing to launch its New York Stock Exchange IPO on Wednesday, targeting around $100m, according to a source close to the deal.

Legend Holdings Corp, the controlling shareholder of technology company Lenovo Group, is looking to spin off its financial unit through a Hong Kong IPO.

Tencent Music Entertainment Group has begun bookbuilding for its long-awaited $1.23bn IPO in the US, around two months after first gauging investor appetite.