Northeast Asia

As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.

After creating three billionaires and causing an unprecedented 400% share price rise for one company at the end of the first trading day, Shanghai’s new technology board saw $1bn wiped out on Tuesday. As the feverish excitement among investors cools down, longer-term concerns around China’s IPO markets have emerged, writes Rebecca Feng.

Caisse des Dépôts et Consignations has returned to the Samurai market with what the issuer and leads said was the lowest ever coupon in the format.

An expected return of Brexit volatility means that there are likely to be fewer UK firms doing IPOs in the fourth quarter of the year, but London will continue to host high profile international listings to make up the shortfall.

It gives me great pleasure to realise how much of an impact I’ve had on my former employees.

Chinese banks are beefing up their loans business in southeast Asia, with Bank of Communications (BoCom) becoming the latest firm to set its sights on further expansion. While Mainland lenders are more active in the region than before, there are challenges to their growth, writes Pan Yue.

Country Garden-linked Bright Scholar Education Holdings made its debut in the offshore bond market on Wednesday, raising $300m from a heavily-covered transaction.

China Great Wall Asset Management Co priced its first dollar bonds since May 2018, attracting investors amid subdued supply from the Chinese AMC sector.

International banks will finally be allowed to obtain a fully-fledged bond underwriting licence in China’s interbank bond market, giving a boost to their ambitions to expand in the mainland. But they will have to meet some very high standards before they can make progress. Rebecca Feng reports.

Wanda Sports Group has cut 38% off the size of its live US IPO, having reduced the stock on offer and trimmed price guidance as it confronts investors nervous over their unfamiliarity with the company.

Industrial and Commercial Bank of China tapped the sterling market through its London branch on Wednesday to become the first Chinese bank to sell a senior benchmark bond in the currency. Demand was driven by an anchor investor, with the lead managers increasing the size of deal to satisfy as many orders as possible.

Hanwha Energy USA Holdings Corp’s green bond attracted more than $2bn of orders on Tuesday, allowing the borrower to close the $300m trade with no new issue premium.