Northeast Asia

At least one undisclosed vendor has put up a W251bn ($244.1m) stake in Netmarble Games up for sale through an accelerated block.

Toyota Motor Finance (China) is hitting the Chinese asset-backed securities (ABS) market for a second time this year. The Japanese automaker maker will approach investors with a Rmb3bn ($452.1m) deal on November 16.

After years of anticipation, China has finally opened the door to majority foreign ownership across its financial sector. But instead of reacting with jubilance, international banks appear cautious as they await more details from regulators and remain vigilant of the challenges ahead, ranging from fierce local competition to licencing procedures.

Anton Oilfield Services Group is making a dollar bond market comeback, offering a new deal in exchange for its existing 2018 bonds.

WuHan DangDai Science & Technology Industries (Group) Co is marketing its inaugural international bond. Separately, Xinyuan Real Estate Co is meeting investors this week for its second dollar bond of the year.

The People’s Bank of China gives foreign institutional investors greenlight to trade derivatives in the interbank bond market, Silk Road Fund sets up investment platform with a General Electric (GE) subsidiary to target Belt and Road energy projects, and the trading volume for Singapore Exchange (SGX) offshore renminbi (CNH) futures falls in October.

Chinese real estate developers China South City Holdings (CSC) and Guangzhou R&F Properties Co are wooing buy-side accounts on Monday for new dollar bond offerings.

China Minsheng Banking Corp sealed a fixed-floating combination bond on Thursday, with the help of a 19-strong syndicate.

The deputy governor of the People’s Bank of China says foreign companies will be treated on an equal basis with their Chinese peers, two foreign fund managers obtain private fund management (PFM) licences through their wholly foreign owned enterprises (WFOE), and Goldman Sachs sets up an investment fund with China’s sovereign wealth fund targetting US companies.

Hong Kong Airlines, which last visited the international syndicated loan market in 2015, is working with a bank to refinance that facility.

China Development Bank Corp priced its maiden international green bond on Thursday, raising close to $1.7bn from a dual-currency transaction that will fund Belt and Road related projects. The deal offered diversification not only to the issuer but also to investors.

Yixin Group raised its full target of HK$6.8bn ($867.2m) in a Hong Kong IPO that was overwhelmed by orders, allowing the issuer to price at the best end of terms.