Northeast Asia

Following investor calls last Friday, two public sector borrowers hit the market for new dollar bonds on Monday, with IDB Invest going for a three year maturity and the Japan International Cooperation Agency making a rare appearance for a 10 year trade.

China’s securities regulator has banned GF Securities from sponsoring IPOs for six months and underwriting bonds for a year, punishing the firm for its role on a series of fundraisings for Kangmei Pharmaceutical Co.

Chinese car manufacturer Great Wall Motors has paid up for its return to the loan market for a $440m-equivalent dual-currency deal.

Electric vehicle maker Li Auto is planning to float American Depository Shares (ADS) on the Nasdaq. It is eyeing $100m in proceeds.

In this round-up, China once again vows to crack down on fraudulent behaviour in the financial market, credit data for June is stronger than expected, and the securities regulator makes updates on how it grades onshore brokerages.

In this round-up, Credit Suisse is reportedly seeking a bigger share in its onshore securities joint venture, Weibo’s parent Sina Corp considers delisting from Nasdaq after two decades and the former head of China’s securities regulator said easier delistings would improve the stock market.

In this round-up, the latest cluster of Covid-19 in Beijing city comes to an end, the US imposes sanctions on four Chinese officials and Mainland-based social media apps are faced with more pressure.

Chinese issuers continued to bombard the dollar bond market on Thursday. Hangzhou Financial Investment Group Co, Yankuang Group Co and ZhongAn Online P&C Insurance were among those that sold deals.

China Bohai Bank has priced its Hong Kong listing just off the floor of the marketed range to raise HK$13.8bn ($1.78bn).

Chinese private equity firm Yunfeng Capital trimmed its position in Alibaba Health Information Technology with an upsized block trade on Thursday, its second sale of the stock this year.

Tianjin Great Wall Binyin Automotive Finance, the funding arm of domestic carmaker Great Wall Motors, sealed its first internationally rated auto securitization deal on Thursday. The Rmb3.37bn ($481m) deal attracted decent demand from foreign investors.

Japanese duo Mizuho and Nomura both hit the market with new issues on Monday as the primary market re-opened on a positive note following the July 4 holiday weekend.