Northeast Asia

Commodities trader Trafigura sold a Rmb500m ($78.9m) three year Panda bond through a private placement on April 26, marking the issuer’s first feat in China. The company said it hopes to become a regular issuer in the Panda market.

Poly Property Group and Hong Yang Group Co raised funds from the dollar bond market last Friday, with the former opting for a tap of its outstanding paper and the latter going down the short-term note route.

Hong Kong-listed real estate company Agile Property Holdings launched a HK$6bn ($765m) deal to the market last week, wooing lenders with a juicy margin and all-in pricing.

White goods maker Qingdao Haier has won approval from its shareholders to float D-shares on the Frankfurt-based China Europe International Exchange (Ceinex).

Securities watchdog moves the foreign ownership limit in securities and asset management companies to 51%, regulators extend grace period for financial institutions to comply with wealth management product rules, and FTSE Russell says dim sum will thrive despite onshore opening.

FX watchdog grants $8.34bn of quotas for the qualified domestic institutional investor (QDII) outbound investment programme, the leadership of the ruling Communist Party reinforces the promise to open up markets, and Bond Connect sees growing Q1 investments.

The debt market in Asia ended the week on a muted note, with both investment grade and high yield dollar spreads widening amid a rise in US Treasury yields. The primary bond market was also quiet with no international issuance on Thursday and a lone Chinese issuer collecting bids on Friday.

The Central American Bank of Economic Integration (Cabei) was back in Taiwan’s Formosa market on Friday with a renminbi-denominated bond, more than 18 months since its last renminbi-denominated issuance.

Three firms have submitted their listing applications in Hong Kong as the city’s IPO filing season goes full steam ahead.

South Korea’s SK Lubricants has withdrawn its up to W1.6tr ($1.5bn) IPO after failing to get the desired valuation, according to a filing with the country’s financial regulator on Friday.

Chinese oil and natural gas producer CNOOC jumped into the bond market on Wednesday for a dual-tranche deal, raising $1.45bn.

Hong Kong-listed Car was caught in the eye of an onshore storm this week as bond investors retreated after initial excitement over the central bank’s move to boost liquidity. But the borrower found joy elsewhere — from a visit to the dim sum bond market. Noah Sin reports.