Greater China

A receptive market and generous pricing worked in favour of China’s Concord New Energy Group and Indonesia’s Sawit Sumbermas Sarana (SSMS) this week, as both managed to pull off debut dollar bonds two months after failed attempts. Morgan Davis reports.

Chinese biopharmaceutical company BeiGene wrapped up a follow-on offering of its Nasdaq-listed American Depository Shares on Wednesday, raising a larger than expected $750m, according to a company statement.

Sunny Optical Technology (Group) Company’s $600m bond debut tightened 15bp in the secondary market on its first day of trading, a clear sign of the rampant demand for technology credits. But despite the eye-catching tightening, even rival bankers thought the pricing was spot-on. Addison Gong reports.

Promoting RMB internationalisation is necessary for China to safeguard its national security, Anthony Leung, chairman and CEO of Nan Fung Group and former financial secretary of Hong Kong, told the Asian Financial Forum on January 16.

China’s Concord New Energy Group and Indonesia’s Sawit Sumbermas Sarana (SSMS) sold their first dollar bonds on Tuesday, successfully completing transactions that were stymied just two months ago.

Luxury auto dealership China ZhengTong Auto Services has wrapped up its latest borrowing at $380m.

Sunny Optical Technology (Group) Company priced a tight debut bond on Tuesday, with the notes tightening a further 15bp in secondary, showing the strength of demand for the technology sector. But despite the rally, pricing was considered spot-on by market participants.

South Korea’s Woori Bank sealed a $300m floating rate Formosa bond on Tuesday.

Chinese corn oil manufacturer Shandong Sanxing Group Company and real estate developer Cifi Holdings (Group) Co raised a combined $500m on Tuesday, adding to the growing momentum in the Asia bond market.

Country Garden Holdings pocketed HK$23.5bn ($3bn) from a dual-tranche sale of shares and convertible bonds on Tuesday, pricing the equity-linked portion at the best end for investors.

Deutsche Bank has beefed up its debt origination team in Asia with the addition of an experienced loans banker.

A senior equity-linked banker with Daiwa Capital Markets Hong Kong has left his position, sources close to the matter told GlobalCapital Asia.