Northeast Asia

BNP Paribas has seen two senior changes in its Asia business recently, according to multiple sources close to the situation.

China National Bluestar (Group) Co paid a handsome new issue premium for a $300m senior perpetual bond amid weak sentiment for the structure, as its deal caused a widening in the broader Chinese senior perp market.

China Evergrande Group’s $1.8bn return to the bond market this week split opinion. The ultra-high yield deal, which sent the company’s secondary bonds spiralling, was largely sold to Evergrande’s chairman — a move that attracted a mix of outrage and admiration. Morgan Davis reports.

A stunning rally in Innovent Biologics caught the market’s attention this week, after the shares surged as much as 46% following their debut in Hong Kong on Wednesday. But whether it marks a turning point for the city’s biotechnology listings — which have performed dismally in the secondary market so far — is less clear, writes John Loh.

Mirae Asset Daewoo Co became the first securities firm from South Korea to tap the international bond market this week, when it issued $300m on Wednesday.

S&P Global Ratings is expecting to get regulatory approval to set up in China as early as November as the race to disrupt the onshore ratings market heats up, writes Paolo Danese.

Agricultural Bank of China's Hong Kong branch became one of only two issuers to print floating rate notes (FRNs) in October, raising $800m on Wednesday.

Bank of America Merrill Lynch has promoted Jessica Li to head of healthcare investment banking for Asia.

China Evergrande Group raised $1.8bn in an unusual three-tranche deal on Tuesday that saw its chairman purchase $1bn of the notes as a show of support for the company.

China Citic Bank International gave in to investor demands for a higher yield on its additional tier one notes, compromising on price to secure a $500m trade.

Standard Chartered announced on October 29 that it had been granted a domestic fund custody licence by the China Securities Regulatory Commission (CSRC).

Avic International Leasing Co netted $350m on Tuesday from a three year bond, opting for a slightly different pricing strategy by starting the deal at a relatively tight guidance.