Northeast Asia
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Japanese issuers are rarely seen in the European corporate bond markets, but electric motor manufacturer Nidec made it two Japanese corporate bond sales in two days, following Japan Tobacco’s multi-tranche deal on Wednesday. -
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Japan Tobacco took the rare step of issuing corporate bonds in three different currencies on the same day when it sold its debut euro and sterling bond deals alongside a pair of dollar tranches this week. The unusual move proved to be a successful one however, with each tranche at least three times subscribed.
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BOC Aviation made its fourth dollar market outing of the year on Wednesday, locking up $500m from a tightly priced floating rate transaction.
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China State Shipbuilding Corp (CSSC) jumped into the busy market on Wednesday, grabbing more than $835m from a dollar/euro dual-tranche transaction.
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A couple of times every year, Hong Kong faces the brunt of rather strong typhoons. But last Sunday was special, even for someone like me who has lived in the city for more than 20 years. We welcomed super typhoon Mangkhut.
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Chinese hotpot chain Haidilao International Holding pulled off top-end pricing for its HK$7.56bn ($963.3m) Hong Kong IPO this week, wooing institutions with its unique story. But the lukewarm response from retail investors is being viewed as a blessing in disguise for allocations — and hopefully for the stock’s aftermarket performance. Jonathan Breen reports.
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Chinese policy bank Agricultural Development Bank of China made its first foray into the dollar bond market on a busy Wednesday to raise $700m, alongside a Rmb1.2bn ($175m) return to offshore renminbi.
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Four Chinese high yield issuers sealed bonds on Wednesday, when a total of nine deals were priced in the primary market in Asia ex-Japan, making it the busiest day in the region in months.
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Two Samsung-linked units are selling down their remaining shares in Samsung C&T Corp through an accelerated block that could raise as much as $829m.
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Toyota may be a familiar name in the corporate bond markets, but Toyota Motor Finance Netherlands BV stepped out of the shadow of some of its parent company’s better known subsidiaries to issue its first benchmark bond in a major currency.
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A private equity investor sold down its stake in South Korea’s Celltrion Healthcare on Tuesday evening to raise W401.3bn ($356.4m), with the shares so highly coveted that all orders had to be reined in aggressively.
