Northeast Asia

Investors could not get enough of Korea Expressway Corp’s (KEC) dollar bonds on Monday, as it closed its deal more than 12 times oversubscribed.

South Korea’s Lotte Tour Development has raked in W215.8bn ($191.3m) after wrapping an oversubscribed rights issue.

Global Logistics Properties, the Singapore-headquartered logistics facilities provider that is the second most frequent issuer of Panda bonds, snapped up another Rmb1.2bn ($170m) in its October outing.

The China Securities Regulatory Commission has cut in half the lock-up period for converting global depository receipts (GDRs) into A-shares for the London-Shanghai Stock Connect, expected to launch later this year.

South Korea’s Daewoo Engineering & Construction (Daewoo E&C) is tapping the offshore market for a $100m term loan.

China's Jiayuan International Group made any unusual move by coming to the bond market on Friday last week, for the refinancing of a November maturity.

Innovent Biologics launched its Hong Kong IPO on Monday to raise HK$3.3bn ($422.2m), with over 60% of the shares already sold to a large contingent of cornerstone investors — many of them double-dippers.

Taiwan’s Mei Ta Industries has returned to the offshore market after three years for a €220m ($254m) dual tranche borrowing.

Asia International School (AISL) is tapping the offshore market for a debut loan of up to $180m.

The People’s Republic of China, acting through its Ministry of Finance (MoF), priced a $3bn return to the international bond market, pushing out its maturity profile to 30 years. But a weaker backdrop meant that the order book was not as strong as its dollar trade last year.

Qingdao Haier has set final price guidance for its D-share IPO. The Chinese white goods maker is eyeing proceeds of up to €397.5m from a smaller than expected debut for the asset class.

Standard Chartered’s RMB internationalisation index hit a nearly two-year high, State Street entered the RMB qualified foreign institutional with a splash, and index provider IHS Markit partnered with a Chinese clearinghouse for a new set of bond indices.