Hong Kong SAR

Hong Kong-based Chong Hing Bank’s $250m Basel III-compliant additional tier one (AT1) bond received just muted demand from investors because of its tight pricing approach.

China’s Belle International Holdings has returned to the loans market to refinance some of its debt, but has opted for a club loan this time around in a bid to cut costs associated with underwriting.

Hong Kong Airlines has deferred a coupon payment on its perpetual dollar bonds.

Hangzhou Tigermed Consulting, a biopharmaceutical research and development service provider, has covered books on its secondary public offering in Hong Kong on the first day of taking orders.

In this round-up, China International Capital Corp plans to boost the size of its Shanghai IPO, the Hong Kong Monetary Authority plays down the impact of the national security law, and the People’s Bank of China revamps green criteria.

In this round-up, the already fraught relationship between the US and China faces fresh tests, as both countries continue announcing retaliatory measures against each other.

Sino Biopharmaceutical’s chief executive Tse Ping has sold a portion of his stake in the company for the second time this year, pocketing HK$3.15bn ($406.4m) but causing the stock price to tumble in the secondary market.

Ant Group is planning a dual listing in Hong Kong and Shanghai that will value the company at as much as $200bn. Bankers say the mega listing will be a ‘shot of adrenaline’ for the two stock exchanges, creating a surge of liquidity that will enable more companies to follow suit. Jonathan Breen reports.

The Covid-19 pandemic could forever change the way we as a society live and travel. Bankers may find it hardest to adjust to the new normal.

GLP, a Singapore-headquartered global logistics facilities provider, sold a Rmb2bn ($286m) Panda bond on Wednesday. The company, once a frequent issuer in the onshore renminbi market, returned after a long absence.

Boqii Co, a Chinese pet-focused e-commerce site, is working on a Hong Kong listing that could raise up to $150m, according to a source familiar with the matter.

China ZhengTong Auto Services Holdings, a luxury auto dealership, surprised bankers this week after missing a principal payment on a dollar loan. Pan Yue reports.