Northeast Asia

Credit Suisse’s head of loan syndication and distribution for Asia Pacific has left the bank, according to a source close to the situation.

German private equity firm Aurelius is preparing a high yield bond issue of up to €200m issue of senior unsecured five year floating rate notes in the Nordic market. Another investment group, Chinese Fosun, also tapped the markets with a €400m issue of unsecured senior notes.

Chinese president Xi Jinping triggered a jump in the prices of blockchain-related stocks this week after hailing blockchain as the centrepiece of the country’s technology innovation in a Politburo study session. Xi's comments came as the People’s Bank of China plans to roll out its central bank digital currency.

State Grid Corporation of China is in talks with banks for a loan to support its $2.23bn acquisition of Sempra Energy’s Chilean business.

Chinese biopharmaceutical firm I-Mab has set the ball rolling for a potential $100m Nasdaq IPO, having filed a prospectus with the US regulator on Tuesday.

SDIC Power Holdings has won final approval from the Chinese financial regulators to list in London. It will be the second company to float using the city’s Stock Connect scheme with Shanghai.

Chinese residential and commercial real estate developer Sinic Holdings has kicked off a roadshow for a HK$2.25bn ($287m) listing.

Three Chinese real estate developers came to the bond market on Tuesday, raising a combined $1.25bn.

Dongfeng Nissan Auto Finance, a joint venture between Japanese carmaker Nissan Motor and Chinese automaker Dongfeng Motor, will return to the Chinese auto loan ABS market on November 5 for its third deal of the year. The Rmb6.5bn ($920m) four-tranche note will be the issuer’s largest outing to date.

The Bank of Japan appears to have softened its stance on the country’s banks buying foreign CLOs, reporting that credit risk in the asset class is “subdued on the whole” following a slowdown in investment in the asset class.

Leads on Sumitomo Mitsui Banking Corporation’s two part dollar and euro covered bond were criticised for not being transparent with the order book update, which was expressed without giving the currency of the demand, but in the final analysis, the sale of the high yielding euro portion went better than expected.

Wholesale revenue increased in Nomura for Europe, the Middle East and Africa in the most recent quarter, the bank said on Tuesday, helped by a sturdy rates business.