Northeast Asia

Avic International Holding Corp has raised $400m to address an upcoming bond maturity, finding enough support for a twice covered transaction. But the pricing reflected some weakness in the lower end of the Chinese investment grade curve.

China’s Goodbaby International Holdings, a developer of parenting products, is debuting in the offshore loan market with a $250m borrowing.

Canvest Environmental Protection Group Company’s Hong Kong dollar denominated $150m-equivalent loan has attracted five participants.

Four bankers in Credit Suisse’s Asia Pacific loan syndications and financing group left the firm this month, according to sources close to the situation.

Canaan is eyeing a $1.5bn IPO in Hong Kong that will test investor appetite for the first listing of a cryptocurrency firm in the city.

Cambodian casino operator NagaCorp clinched a $300m debut bond on Monday. But the gaming company’s notes looked cheap compared to other industry names in Macau, causing the yield to drop significantly in secondary trading on Tuesday.

Chinese technology company ZTE Corp appears to have been saved from the brink, after US President Donald Trump’s surprising intervention on Twitter. But although that may look like good news to ZTE’s investors, it should not be applauded by anyone else. The only thing predictable about the trade war between China and the US is quite how unpredictable it will be.

A rare floating rate note from Peking University Founder Group on Monday stood out in a busy market, raising the question of whether the format can become popular among corporations.

Bank of China’s aircraft leasing arm BOC Aviation sold a rare seven year dollar-denominated floating rate note (FRN) on Monday to an overwhelming response. The deal has opened the door to other financial institutions in the region looking to extend their funding profiles in the format.

KDB Life Insurance Co bagged a $200m subordinated trade on Monday in its first foray into the international bond market, getting away with the structure despite a volatile backdrop

MSCI has confirmed the 234 A-shares it is including in its benchmark Emerging Markets (EM) Index from June 1. Instead of grabbing all the A-shares they can get on the first day of inclusion, international investors are likely to take a tempered approach and build their exposure incrementally, analysts said.

The upcoming inclusion of onshore assets in global indices will drive massive inflows to the onshore capital markets, but will also have the side effect of downsizing the role of the offshore RMB (CNH) markets, according to Julien Martin, the head of FIC product development at the Hong Kong Exchanges and Clearing.