Northeast Asia
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Malaysia has closed the biggest sovereign Samurai bond in 18 years, raising ¥200bn ($1.79bn) from what could be just the first of many such deals to come. -
Xinhu Zhongbao Co, Suning Appliance Group Co and Chengdu Communications Investment Group Corp kept up the steady supply of Chinese credits in the dollar market, raising $440m between them.
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In this special round-up on China’s annual ‘Two Sessions’ parliamentary meeting, premier Li Keqiang promised a bigger tax cut than expected, increased the local government special purpose bond quota and demanded large commercial banks to boost their lending to small enterprises
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Link Real Estate Investment Trust has pulled off a record-breaking equity-linked deal, issuing the first green convertible notes in Asia Pacific, according to a source close to the transaction.
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China’s Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material received strong demand during syndication. They have now closed their joint borrowing, raising $430m.
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Dollar SSA issuance is expected to pick up next week, thanks to a change in the euro/dollar basis swap that is making issuance in the currency more attractive for euro funders. There was still a smattering of dollar trades this week, including a Sofr-linked floater that broke new ground for the format.
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Futu Holdings, the parent of Hong Kong-based Futu Securities, has pulled off the first IPO by a Chinese online brokerage. The company was on track to raise $160m on Thursday after making a late change to the deal, cutting the size of its float and adding a private placement to an international fund. Jonathan Breen reports.
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Xinyi Group (Glass) Co has launched a block trade of Xinyi Solar Holdings shares,. The company is looking to raise up to HK$1.35bn ($172.3m), according to a term sheet seen by GlobalCapital Asia.
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Only a week after the Shanghai tech board rules came out, onshore companies have started to prepare listing documents and the Hong Kong Stock Exchange has proposed bringing international investors to the market. But onshore companies may not be ready.
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Chinese premier Li Keqiang has told the country’s banks they need to increase their lending to small companies. But the details are fuzzy. Pan Yue reports.
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Chinese internet company Ruhnn Holdings is planning to list American Depository Shares (ADS) on the Nasdaq.
