Northeast Asia

One of my favourite parts of the winter season used to be the ski trips. Nothing beats swapping the smoggy Hong Kong winters for a cabin on one of Japan’s snow-capped mountains.

Seguchi, Su succeed Koder as BAML co-presidents — QFII quota doubled ahead of index inclusions — China high yield faces a tough year

Korea National Oil Corp’s debut in the Japanese yen market on Wednesday was one to remember. The deal was the largest single-tranche Samurai bond on record in Asia, despite a rise in tensions between the two countries.

Kangde Xin Composite Material Group looks likely to be one of the first Asian issuers to default on a dollar bond in 2019, with missed payments onshore expected to trigger a cross default.

Greenland Holding Group has taken the first step towards refinancing its 2019 maturities, pricing a $300m bond in a busy period for Chinese real estate issuers.

Junson Development International offloaded a 2.52% stake in property company Longfor Group on Wednesday, raking in HK$3.4bn ($434.2m).

China Yuanfang Group filed a draft IPO prospectus in Hong Kong on Wednesday, adding to a growing list of Mainland education firms hoping to float in the city.

The party in Chinese high yield real estate bonds continued this week, with China Aoyuan Group, Zhenro Properties and Yuzhou Properties taking home $1.15bn between them on Tuesday.

Lenovo Group boosted the size of its debut convertible bond to $675m after a flood of investors turned out for the deal, according to bankers on the mandate.

China’s Bank of Communications Financial Leasing Co managed to raise the upper end of its $1.5bn target size at a tighter-than-expected level on Tuesday, a feat achieved despite a busy bond market in Asia.

South Korea’s Hanwha Total Petrochemical Co brought its maiden dollar bond to the market on Tuesday, appealing to investors with its strong credentials and scarcity value.

Hong Kong-listed Sun Hung Kai Properties is talking to banks for its annual return to the loan market. The company has raised its funding cost for the first time in five years.