Northeast Asia

FWD Group has come to the market with yet another unusual transaction, raising $600m but seeing the bond open a whole point lower in the secondary market on Wednesday morning.

Investors chased South Korean semiconductor manufacturer SK Hynix’s $500m bonds both in the primary and secondary markets, even though the borrower pulled off one of the largest price reductions on a deal from the country.

Hong Kong Exchanges and Clearing has made an unsolicited £32bn bid for the London Stock Exchange Group, a move that could torpedo the LSE’s acquisition of Refinitiv.

Chinese issuers Country Garden Holdings Co, Guangxi Communications Investment Group Corp and Shuifa Group, all of which have investment-grade ratings, have sold well-supported dollar bonds to investors.

The State Administration of Foreign Exchange (Safe) has scrapped the quota limits on two of the oldest access schemes for foreign investors to China’s onshore bond and equity markets. Bankers said the move could bring in some improvements to the way the mainland market operates, writes Rebecca Feng.

Shanghai Henlius Biotech launched a Hong Kong SAR listing on Wednesday, becoming the first issuer to test the market after earnings season and while protests continue to rip through the city.

Furniture maker Samson Holding has closed a $120m club loan with three banks to support the construction of a new factory in Vietnam

Euroclear Bank, a Brussels-based international securities depository, will work with China Central Depository and Clearing (CCDC) to develop a bond trading link for international investors to access Chinese domestic bonds.

Mainland China-based Cathay Media Group is eyeing a Hong Kong Stock Exchange IPO, filing a prospectus with the bourse this week.

Chinese real estate developer Longfor Group Holdings raised $850m from a 10 year bond on Monday, taking advantage of a recent ratings upgrade that led to a rally in its secondary price.

Industrial and Commercial Bank of China has priced $3.15bn of green bonds in US dollars, Hong Kong dollars and offshore renminbi (CNH), achieving a number of firsts in the process.

Chinese home appliance retailer Suning.com is seeking a $500m term loan to support its acquisition of French supermarket company Carrefour’s mainland China business. Although there are doubts about Carrefour’s future operations, bankers are still keen to maintain a relationship with the borrower.