Northeast Asia

In this round-up, China’s August credit data offers a positive surprise, the government introduces greater control on domestic financial holding companies, and ByteDance rejects Microsoft’s offer for TikTok’s US operations in favour of a possible tie-up with Oracle Corp.

Nissan Motor made its debut in the European bond market on Friday with a €2bn deal that investors would have liked larger and differently shaped, just a day after it had issued its first ever foreign currency bond, for $8bn.

Hungary returned to the Samurai market after a two year absence on Friday to sell the first ever sovereign green bond in the market, which formed part of its ¥62.7bn (€500m) four tranche deal, which the sovereign used to extend its debt curve while also introducing a new investor base to the credit.

In this round-up, the Consumer Price Index (CPI) inflation moderates in August, the Chinese capital of Beijing opens up its financial services industry further, and Goldman Sachs is reportedly readying a deal to take full control in its China securities joint venture.

In this round-up, the foreign minister announces a global data security initiative, both American journalists and Chinese students face fresh visa restrictions, and president Donald Trump says his re-election will end the US’s reliance on China ‘once and for all’.

Credit Suisse has hired 11 researchers for Credit Suisse Founder Securities (CSFS), its Chinese joint venture securities house. The new employees are part of the bank’s bigger plan to expand its onshore presence.

Neusoft Education Technology, a private higher education provider, got the go-ahead for its IPO this week from the Hong Kong Stock Exchange.

Crédit Agricole printed its long-awaited Rmb1bn ($146m) Panda bond this week, after delaying its offering by nearly three months due to volatility in China’s onshore debt market.

Chinese local government financing vehicle (LGFV) Guangzhou Metro Group Co priced a tight dual-tranche deal on Thursday, including a 10 year tranche for the first time, in a bid to take advantage of falling yields.

ENN Energy Holdings, one of China’s largest clean energy distributors, raised $750m on Thursday with its green bond debut.

Chinese battery maker Contemporary Amperex Technology Co (CATL) made its debut in the bond market on Thursday with a $1.5bn dual tranche deal that saw demand of nearly $14bn coming in.

Chinese property developer Xinyuan Real Estate Co, whose outstanding bonds have suffered because of the Covid pandemic, opted for size over price for its $300m return this week.