Northeast Asia

The Carlyle Group, a US-based multinational private equity firm, offloaded its position in China Literature this week through a HK$1.53bn ($196m) overnight block trade.

South Korea’s Mirae Asset Daewoo has been ordered to pay $700,000 after a US Commodity Futures Trading Commission investigation found one of its traders had engaged in spoofing.

KfW and Canada both launched dollar benchmarks on Wednesday, bringing a pair of highly subscribed and tight deals. Following their success, two Asian SSA issuers prepare to join the busy dollar market.

UBS can sponsor Hong Kong IPOs again, the city’s financial regulator announced on Tuesday after lifting a ban imposed on the bank in March last year.

China’s government debt last year grew at its fastest pace annually since 2009, while central and local government borrowing shows no signs of slowing.

Sinopharm Holding (China) Finance Leasing Co is seeking a $215m-equivalent loan.

Anta Sports Products, a Chinese sportswear manufacturer and retailer, had to navigate a number of roadblocks to print a €1bn zero coupon convertible bond to refinance loans in the currency.

The State Administration of Foreign Exchange (Safe) will allow foreign investors to participate directly in the interbank FX derivatives market so they can hedge their foreign exchange risks from investing in onshore renminbi bonds, according to a Monday notice.

The US and China’s signing of the phase one agreement on trade this week will finally put almost two years of battling and tit-for-tat tariff retaliation behind the countries. However, while the truce may pave the way for more market stability and a boost in investor sentiment, it spells trouble for the Chinese offshore loan market.

South Korean steel company Posco made a blockbuster return to the debt market on Monday, raising $940m from dollar investors and €500m from the European market. The peak order book of about $5.75bn for the dollar portions reflected investors’ eagerness to take on investment grade risk.

New World China Land, the mainland China property business arm of Hong Kong’s New World Development Co, has returned to the offshore loan market after five years for a HK$5bn ($643m) borrowing.

Chinese property developer Seazen Group raised HK$2.73bn ($351.3m) on Monday from a sale of new shares, increasing the offering size on the back of strong demand, according to a source familiar with the deal.