Northeast Asia

Investors have dumped Peking University Founder Group Co’s $2.95bn of dollar bonds after a default by the company in onshore China rattled markets. But despite numerous default situations from the country making headlines this year, market participants are not hitting the panic button just yet, writes Addison Gong.

Crédit Agricole printed a Rmb1bn ($142m) three year renminbi bond in China on Wednesday. Despite being a senior preferred deal and including write-down and conversion to equity clauses, both new to onshore investors, the Panda still managed to achieve tight pricing and a well-covered book. Rebecca Feng reports.

China YuHua Education pocketed HK$2.02bn ($258.5m) from a convertible bond this week to buy back its outstanding CB, printing a deal that was tailored for hedge funds, writes Jonathan Breen.

Beijing Enterprises Clean Energy (BECE), a government-backed energy firm, came back to the exchange market on Wednesday for its second green Panda bond.

China Everbright Bank has raised $500m from a floating rate note that was heavily supported by Chinese banks.

Zhuhai Huafa Group Co showed a vote of confidence in Macau’s stock exchange on Wednesday when it priced a $200m bond that was tailored to Macau's investors.

Equity investors are taking on more risk as 2019 draws to a close but a short sharp spike in volatility that began at the end of last week is giving them cause for concern.

China Huaneng Group, one of the mainland's largest power generators, sold a three-tranche dollar bond on Tuesday, taking $1.5bn off the table near the end of the year, when investors are still looking to put money to work.

Bank of Communications Financial Leasing Co bagged $600m from a floating rate note (FRN), taking advantage of a strong preference from investors for a floating rate format compared to fixed.

Three Chinese property names hit the bond market on Tuesday, raising a combined $1.624bn in a mix of senior and subordinated trades.

Akesobio, a Chinese biopharmaceuticals company, filed a draft prospectus for an IPO with Hong Kong’s stock exchange on Tuesday.

China YuHua Education Corp has bagged HK$2.02bn ($259m) from a convertible bond, printed in part to fund the buyback of its existing CB, according to a source familiar with the matter.