Northeast Asia

Chinese internet company Baidu has filed updated offer documents for its Hong Kong secondary listing, the final step before it launches its potential multi-billion-dollar deal.

The Asian Development Bank made a rare outing in China’s interbank market this week. The Rmb2bn ($307m) bond, priced significantly below the onshore benchmark, ended the multilateral development bank’s absence from the domestic Chinese market for over a decade.

Chinese state-owned Chongqing Energy Investment Group Co has revealed that it has overdue payments on some of its onshore bank debt, confirming rumours that caused a plunge in its dollar bond price and triggered volatility in related names last week.

China’s Guangdong Lingyi iTech Manufacturing Co, a company focused on making magnetic materials, electric motors and electric wires for automobiles, computers and mobile phones, has hit the market for a $150m loan.

South Korean e-commerce company Coupang has increased the price range for its US IPO a day before wrapping up the deal, now putting proceeds of up to $4.08bn within reach.

China’s YishengBio is planning to list in Hong Kong, having filed an IPO application with the bourse on Monday.

South Korea’s flag carrier Korean Air has topped up its coffers with W2.5tr ($2.19bn) in fresh equity after sealing a jumbo rights issue.

SK Bioscience has priced its IPO at the top of the marketed range, raising W1.49tr ($1.32bn) from South Korea’s largest listing in four years.

The Asian Development Bank is marketing a five year renminbi-denominated bond, as it looks to raise Rmb2bn ($307m) from its first outing in the onshore China market in over a decade.

Real estate developer China Aoyuan Group has closed a $225m-equivalent dual currency loan with nine banks in the syndicate.

Aluminium producer China Hongqiao Group has returned to the loan market for a $200m borrowing.