Northeast Asia

Hong Kong Telecommunications (HKT) proved this week that investors are still eager to buy bonds issued by companies with a focus on the Hong Kong SAR, despite the ongoing political turmoil. But that confidence will face a big test as names such as Cathay Pacific and Li & Fung get ready to hit the market. Addison Gong reports.

Chinese banks are increasingly selling perpetual bonds onshore, as attractive yields propel them to raise funds in the domestic market. But this avenue of recapitalisation is not open to all, with smaller mainland banks hobbled by lack of investor interest. Rebecca Feng reports.

Chinese real estate firm Zensun Group and local government financing vehicle (LGFV) Guangxi Liuzhou Dongcheng Investment Development Group Co have sold their first dollar bonds, but had to manage their expectations on a busy day for issuance.

South Korea’s Woori Bank has raised $550m from a Basel III-compliant additional tier one bond sale. Despite the softer market backdrop, the firm pulled off the deal without paying any premium.

Malaysia's CIMB Bank used Taiwan’s Formosa market to sell a $680m bond linked to Sustainable Development Goals (SDG), giving the borrower a pricing advantage over the international debt market.

Deals set to be issued by the Province of Ontario and Development Bank of Japan on Wednesday attracted good demand, reflecting their higher yield relative to other dollar supra and agency bonds.

Investors gobbled up Hong Kong Telecommunications (HKT)’s $500m bond outing, despite a busy day for new issuance and the ongoing turmoil in the Hong Kong SAR.

KEB Hana Bank visited the offshore market on Tuesday for the third time this year, raising $400m from a floating rate note.

Chinese companies came to the international bond market in force on Tuesday, just days ahead of a week-long holiday in the Mainland to celebrate National Day.

Nasdaq-listed Chinese company Pinduoduo has printed its debut convertible bond at the tight end of price guidance, pocketing $875m.

China Aircraft Leasing Group Holdings (CALC) is seeking its second syndicated loan of the year and has approached banks to co-ordinate the deal.

Daimler International Finance, a wholly-owned subsidiary of German carmaker Daimler, brought a Rmb500m ($70m) dim sum bond on Tuesday, finding a narrow window of opportunity for a deal ahead of two big liquidity events.