Northeast Asia

SPDB loses investment banking head — MUFG names PF, ESG head for Oceania — Loans veteran Ooi moves to Sydney

China Construction Bank Co sold a $1.2bn dual-tranche green deal on Tuesday, becoming the first Chinese financial institution to sell a green dollar bond this year.

CSC Financial Co, better known as China Securities, raised $500m from the international bond market this week ─ generating an order book more than 12 times the size of the deal at its peak.

Country Garden Holdings Co, one of the biggest Chinese high yield property borrowers, returned to the bond market with a dual tranche deal on Tuesday, raising a combined $1bn from the transaction.

Chinese property and construction firm Jiangsu Zhongnan Construction Group Co raised $200m from a sub-one year bond deal on Tuesday

Chinese electric vehicle maker Li Auto has brought forward the close and pricing of its up to $950m Nasdaq listing after securing heavy demand for the deal.

Chinese pharmaceutical company WuXi AppTec has raised HK$7.37bn ($950.4m) of fresh equity, in a hotly-anticipated tap of a new mandate to issue A-shares and H-shares.

China’s Yihua Enterprise Group Co has defaulted on yet another onshore bond, having recently extended payments on two deals that were set to mature this month.

Yorkie Wong, head of investment banking at Shanghai Pudong Development Bank, has left the firm.

A new scheme launched by China’s National Equities Exchange and Quotations (Neeq) got off to a poor start this week. Around two-thirds of the 32 companies listed on the ‘selection tier’ board fell on their trading debuts. That was a sharp contrast to the opening day of a local rival, the Shanghai Star board.

Ant Group revealed last week that it is planning a multi-billion-dollar dual listing in Hong Kong and Shanghai. The company is often referred to as a startup, but it will float at a valuation well above $100bn and has been in business for six years. What is the right term for a company like Ant? It is time for a new moniker.

Korea South-East Power Co (Kosep) has printed a $300m sustainability bond, in part to tackle the impact of Covid-19, becoming the third issuer from the country to tap the socially responsible investment market this month.