Northeast Asia

Asian debt bankers were forced to react to a tumultuous week of protests in Hong Kong, cutting short the bookbuilding window for new deals. But although bankers had to change tactics, the market largely endured the turmoil. Addison Gong reports.

China's Huali University Group launched bookbuilding on Wednesday for its Hong Kong IPO, targeting proceeds of up to HK$978m ($124.9m).

Gome Retail Holdings, a Chinese retailer of electronic appliances, has cancelled an exchange-plus-new-money transaction, after investor feedback on pricing pointed to a higher yield than it wanted to pay.

Volkswagen Finance (China) has returned to the Chinese auto loan ABS market after a two-year break. The company priced the senior tranche of its Rmb5.97bn ($851) deal at the lower end of guidance.

Investors looked beyond Nanyang Commercial Bank's Hong Kong home to its Chinese parent this week, allowing the borrower to close a $700m Basel III-compliant tier two subordinated deal, despite the protests happening in the city.

China Merchants Commercial Real Estate Investment Trust has kicked off a pre-deal investor roadshow for its Hong Kong SAR listing. It is set to break a six-year drought of Reit IPOs on the bourse.

Gaëlle Olivier is set to take over as the chief executive officer for Société Générale Asia Pacific in January next year, succeeding Hikaru Ogata who is leaving the bank.

Alibaba Group Holdings got the greenlight from Hong Kong's stock exchange for a listing that could be worth as much as $15bn. The deal looks set to receive strong anchor demand from Chinese investors.

Foreign banks hoping to break into China’s capital markets will have an open invitation at the end of next year, when final restrictions on their ownership of securities houses are removed. They will have some small successes with secondary trading but muscling in on primary capital markets will prove expensive ─ and risky.

Beijing Hyundai Auto Finance and SAIC-GMAC Automotive Finance priced their Chinese auto loan ABS transactions on Tuesday.

South Korean heavy industry company Doosan Infracore Co sold a $300m three year bond on Tuesday, helped along by a guarantee from Korea Development Bank.

Xiaofei Guo has joined Natixis to support the bank’s green and sustainable deal origination and solutions sales in Asia Pacific.