Northeast Asia

Ping An International Financial Leasing Co has returned for a $340m loan to meet its refinancing needs.

South Korean investment bank Mirae Asset Daewoo Co raised a $600m bond this week, but had to navigate questions around the stability of its rating and credentials to get past the finish line.

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.

Chinese auto rental company Car Inc’s stock price and outstanding bonds took a hit this week as two of its major shareholders struggled to offload the company’s shares. Addison Gong 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.

Investors were unfazed by State Power Investment Corp’s (SPIC) move to tighten pricing on a $1bn bond by 52bp. The Chinese company’s deal was six times oversubscribed at its peak, and only tightened further in the secondary market.

ICBC International Holdings found a positive window to sell a five year bond on Tuesday, riding the uptick in market sentiment to price a $700m transaction inside fair value.

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.

While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.