Hong Kong SAR

Mainland property developer Times China Holdings has raised HK$1.57bn ($200.2m) after boosting the size of an overnight top-up placement.

HNA Group’s Hong Kong subsidiary, CWT International, appeared to default on a secured Hong Kong dollar loan on Wednesday. Although the company has had debt problems in the past year, many bankers were still surprised by the default and said more thorough background checks will be carried out on Chinese borrowers in future. Pan Yue reports.

I was young and handsome when I married Tai Tai. I’m still handsome, she says, but time has curdled my youth to wisdom (and wealth).

Hutchison China MediTech sparked life into the Hong Kong biotechnology IPO market this week, filing a draft prospectus for a $500m listing with the city’s stock exchange. The globally known name — already listed on two foreign exchanges — is a boost for biotech investors, who have been drip-fed smaller start-ups since Hong Kong allowed pre-revenue companies from the sector to begin listing last year. Jonathan Breen reports.

CWT International, a Hong Kong-listed subsidiary of cash-strapped HNA Group, has defaulted on a HK$1.4bn ($179m) loan.

Biopharmaceutical company Hutchison China MediTech (Chi-Med) is planning a Hong Kong IPO of around $500m, having filed a draft prospectus with the city’s stock exchange on Monday.

Barclays has hired Nicolas Reille to lead the expansion of its equities structuring business in Asia, it announced on Monday.

China’s Juneyao Airlines is tapping the offshore loan market for its debut borrowing of HK$1.8bn ($229m).

Hong Kong’s jewellery retailer Chow Tai Fook has closed a HK$6bn-equivalent five year borrowing with 17 banks.

China Aoyuan Group has received a $162m-equivalent three year secured loan from four lenders.

Hong Kong oil trading business Winson Group is paying up for an up to $180m secured revolving credit facility.

Hansoh Pharmaceutical Group has refiled its long-anticipated Hong Kong IPO. The Chinese drug maker first planned to go public in 2016, and was said to be readying a roadshow for its IPO as recently as February.