Northeast Asia

Yuzhou Properties Co sold its third dollar bond deal of the year this week, bringing its total issuance for 2019 to $1.5bn.

China’s Jinxin Fertility Group is planning to float on the Hong Kong Stock Exchange, according to a draft prospectus submitted to the bourse.

Hyundai AutoEver Corp has kicked off investor education for an IPO that could raise up to W154.4bn ($137.2m), according to a source close to the deal.

The anchoring of European CLOs by Japanese investors, one of which has been claiming the senior notes on most euro CLOs issued in 2019, is likely to continue until at least mid-April, despite the year end for Japanese banks at the end of March, which often slows the market. ICG is the latest manager to launch an issue, with Goldman leading the deal.

In this round-up, trade talks between China and the US will continue in Washington DC after no deal was reached last week in Beijing, total credit growth came above market consensus and Industrial and Commercial Bank of China received a green light to set up a wealth management subsidiary.

Ronshine China Holdings announced the results of an exchange for its outstanding 2021 bond on Monday, at the same time as kicking off bookbuilding for $200m of new funding.

South Korea’s Homeplus real estate investment trust (Reit) is planning to start bookbuilding for its $1.5bn IPO on February 28, after seeing a decent response from investors, according to a source.

Hansoh Pharmaceutical Group is planning to launch investor education for its $1bn Hong Kong IPO before the end of March.

Société Générale is enjoying a record year in the Japanese debt markets, after selling its debut deal in Euroyen format late on Friday. The transaction received strong demand from investors, even though it was marketed at the same time as another total loss-absorbing (TLAC) eligible transaction from ING Groep.

Citi China has made two internal promotions in its markets and securities services business division, according to a Friday press release.

China Cinda Asset Management Co raised $1bn from a foray into the bond market, going for the lower-end of its size target despite what bankers on the deal called an ‘overwhelming’ response from investors.

Jiangxi Railway Investment Group Corp, a Chinese local government financing vehicle, has made its debut in the dollar bond market, raising $300m.