Northeast Asia

Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.

The share price of Doosan Fuel Cell Co, a subsidiary of South Korean conglomerate Doosan Group, nosedived on Tuesday after affiliates of the parent raised a smaller-than-expected W198.6bn ($171.1m) from a block trade.

GAC-Sofinco Automobile Finance Co is readying a Rmb4bn ($589m) return to the auto loan asset-backed securities market, opting for the same structure as its last thinly priced deal.

Asian borrowers looking to tap the international dollar bond market this year have only a small window of opportunity to raise funds. They should act quickly.

Excellence Commercial Property and Facilities Management Group has hit the road with its IPO in Hong Kong. It is looking to raise up to HK$3.2bn ($413.4m).

Yorkshire Building Society (YBS) has mandated leads for the first euro covered bond from the UK since January, My Money Bank has also mandated and, after concluding a roadshow, Sumitomo Mitsui Trust Bank is due this week too. All three bonds will offer a temptingly high spread.

One of Doosan Fuel Cell Co’s major shareholders is offloading its stake in the South Korean eco-friendly cell maker for up to $353m-equivalent.

Credit Suisse has appointed Ryuya Hishinuma to lead its investment banking and capital markets business in Japan, according to an internal memo.

In this round-up, China announces draft regulations for its global systemically important banks, both manufacturing and services activity expand in September, and the regulator for corporate Panda bonds releases details for easier issuance.

The Development Bank of Japan will kick-off a series of investor calls on Thursday for its first sustainability bond under its freshly updated framework, which includes assets related to its response to the Covid-19 pandemic.

Hong Kong’s stock exchange has named an interim replacement for chief executive Charles Li, who is stepping down at the end of the year after more than a decade leading the bourse.

China Evergrande Group reached an agreement with a group of strategic investors to avoid upcoming repayments, easing recent concerns on a potential liquidity squeeze for the company.