Northeast Asia

The local government of Inner Mongolia paid a heftier premium than usual for its bonds in China this week, raising some concerns over whether higher yields will remain as Beijing urges issuers to speed up deal flow.

Ming Yuan Cloud Holdings is set to wrap up bookbuilding for its up to HK$6.2bn ($796.7m) Hong Kong IPO on Thursday, following a flood of demand from global investors, according to two sources close to the deal.

Haitong International Securities Group has appointed David Ng as vice chairman of investment banking.

Times China Holdings raised $350m from a 5.5 year bond on Tuesday as a way to get ahead of its 2021 dollar maturities.

Chinese hospitality company Huazhu Group is on track to raise around HK$6.06bn ($781.8m) from its secondary offering in Hong Kong, after sending price guidance to investors.

Henan Water Conservancy Investment Group sold its maiden $500m bond on Tuesday, adding to the high grade supply from China’s local government financing vehicles (LGFVs). But its deal was not easy, with the issuer having to navigate a handful of obstacles.

The Asian Development Bank has received a Rmb10bn ($1.48bn) Panda bond quota from the Chinese interbank regulator. The multilateral development bank, which sold the world's second ever Panda about 15 years ago, is waiting for the right window to push out its offering, GlobalCapital China understands.

Mainland-based logistics company ZTO Express (Cayman) has hit the road with its Hong Kong secondary offering, with two other Chinese US-listed firms hot on its heels.

Cathay Pacific Airways is asking lenders’ consent to exercise the extension option on a 2017 loan.

Bank of China printed Asia’s first blue bond on Monday, with plans to use the roughly $940m raised to benefit ocean-related sustainability projects.

Bank of China has opened a new area of sustainable investing with Asia’s first blue bond. The excitement over the potential for sustainable ocean-related financing in the region is justified — but the market should temper its expectations.

Bonds sold on Monday by Chinese conglomerate Dalian Wanda Group Co and property developer Logan Group Co have underperformed in the secondary market.