Northeast Asia

Chinese technology giant Huawei postponed its debut euro bond late on Wednesday after final terms had been released, following news of a US investigation into whether the company had violated sanctions against Iran. While Huawei had enough support to go ahead with its transaction, it put the deal on the back burner to maintain its standing with investors, said bankers. Morgan Davis reports.

The benchmark US Treasury 10 year yield moved through the 3% level this week, creating what some say was unnecessary panic in the market. That was clearly reflected in the dollar bond issuance in Asia, with some borrowers ploughing ahead with well-received 10 year transactions and others ditching the tenor altogether. Addison Gong reports.

Metallurgical Corporation of China (MCC) was one of a number of Chinese state-owned enterprises to sell bonds in the international market this week, bagging $500m from the first senior perpetual deal in the region in more than a month.

The Hong Kong Stock Exchange will start taking IPO applications from April 30 under its new regime to encourage technology listings.

We so-called 'gweilos' in Hong Kong — a common Cantonese slang word for Westerners — sometimes find ourselves in a love-hate relationship with the food on offer here.

United Asia Finance, a personal loan provider in Hong Kong, is making a quick return for a HK$1.6bn ($203m) term loan, just two months after sealing its last borrowing.

Karen Pang, an equity-linked banker based in Hong Kong, has left BNP Paribas for a new role in Deutsche Bank, according to two sources with knowledge of the move.

Chinese technology equipment company Hauwai dropped a planned dollar tranche on its latest visit to the corporate bond marker and chose to issue its first bond in euros. This did, however, mean the company opted for a five year maturity, rather than the 10 year tenor it had marketed for the dollar bond.

State Grid Corporation of China priced a $2.8bn-equivalent four-tranche deal on Tuesday, managing to navigate the impact of the benchmark 10 year US Treasury yields finally breaching 3% after days of sell-off.

Société Générale has appointed new sales heads for Asia Pacific and Europe within its global markets division, according to a press release on Wednesday.

Logistics company GLP is returning to the Panda bond market for the fifth time this year, hoping to raise up to Rmb4bn ($634.3m) on the Shenzhen Stock Exchange. Its outing comes at a slightly difficult period in China’s onshore bond market.

Beijing Enterprises Water Group (BEWG) raised $500m on Tuesday to retire a bond maturing in May, finding support from investors despite the numerous unrated state-owned options available to them.