Northeast Asia

China's New Century Real Estate Investment Trust is tapping onshore and offshore loan markets for its latest deal.

Streaming platform Bilibili pulled off a combined convertible bond and American Depository Share (ADS) placement this week, raking in $737.4m after the fundraising was increased following strong Asian demand. The deal comes just a week after its larger peer iQiyi sold a record ADS convertible. Jonathan Breen reports.

Deutsche Bank has promoted Haitham Ghattas to co-head of its financing and solutions group in Asia Pacific, following Jake Gearhart’s relocation to the US.

Hong Kong’s AIA Group looked to the US market for its latest $1bn bond sale on Tuesday.

BOC Aviation sold its second dollar bond of the year on Tuesday, snapping up $750m from the sale of a 5.5 year trade, after raising $500m from a five year bullet in January.

China’s Jiuquan Iron & Steel (Group) Co, or Jisco for short, was able to find enough demand on Tuesday to cover its first international bond — a deal months in the making — raising $300m.

Geely and Dongfeng-Nissan will return to the Chinese auto loans ABS market next week with a total of Rmb7.4bn ($1.1bn) of paper. But while China’s auto loans ABS market has been dominated by auto finance companies (AFCs), Ping An Bank will soon bring the first internationally rated auto loan ABS originated by a commercial bank.

Global investors lauded the inclusion of Chinese bonds in Bloomberg Barclays’ flagship index this week as the start of a new era, but onshore bankers said it was only a gesture. Perhaps they are both right. The move will force global investors into the unknown and could redraw the map for global bond investment.

Tony Lee has joined MUFG Bank (Hong Kong), to head the Japanese lender’s corporate banking business in east Asia.

Nasdaq-listed Chinese streaming platform Bilibili has opened books for a concurrent convertible bond and placement of American Depository Shares, eyeing combined proceeds of up to $614m.

Chinese real estate companies Kaisa Group Holdings, Jingrui Holdings and China SCE Group Holdings came to the market on Monday after announcing strong financial results for 2018 last week, raising $900m between them.

The Bloomberg Barclays Global Aggregate Index started phasing in Chinese government bonds (CGBs) and policy bank bonds on Monday. While global investors anticipated a new era for the Chinese bond market, onshore bankers insisted change would not happen overnight.