Northeast Asia

Artificial intelligence company Megvii Technology’s IPO prospectus expired on Tuesday. But despite delaying the deal, the firm intends to resubmit a listing application, according to a source familiar with the matter.

Chinese travel services provider Trip.com Group is seeking a $1.2bn loan at a time when markets are reeling from the rapid spread of the coronavirus outside the mainland and companies are assessing the impact of the epidemic on their businesses. Despite difficult market conditions, the borrower has received plenty of interest for the deal. Pan Yue reports.

Bank of China took Covid-19-linked bonds offshore on Thursday with a dual currency two year transaction, which was offered through its Macau branch.

Standard Chartered-backed China Bohai Bank is planning a listing in Hong Kong, having filed a draft prospectus on Wednesday.

BMW sold an ultra-cheap auto loan securitization in China last week, giving a clear demonstration of investor appetite for highly-rated credits despite the coronavirus epidemic. But other auto financing companies (AFCs) should be realistic about their chances of repeating this success, as liquidity is drying up quickly.

JP Morgan has picked Filippo Gori as its new chief executive officer for Asia Pacific, replacing Nicolas Aguzin, who is now running the firm’s international private bank.

Chinese local government financing vehicle Xi'an Qujiang Culture Holdings Co raised $300m from a three year bond sale on Wednesday.

Some of the most powerful organs of the Chinese government are doing their best to calm nerves in the domestic bond market. Local governments once again voiced their support for widespread bond issuance this week, while the central bank tried to convince investors not to fret over default risk. Addison Gong reports.

Investors flocked to Hysan Development Co's opportunistic $850m subordinated bond on Tuesday, allowing it to take home a larger deal than expected.

Yield-hungry investors pumped in more than $4bn into China Minmetals Corp’s $1bn perpetual bond on Tuesday. The issuer started at a generous pricing level to attract buyers in a volatile market.

Bank of Communications’ Basel III-compliant additional tier one bond issuance went as expected on Tuesday, despite a dip in investor sentiment due to the rapid spread of the coronavirus.

The Hong Kong Stock Exchange (HKEX) posted record revenue and profit last year, showing it grew its business despite being battered by political and economic headwinds.