Northeast Asia

Korea Electric Power Corp has hired three bookrunners to run an investor roadshow ahead of a potential dollar-denominated green bond issuance as it looks to build a renewables portfolio in the US through acquisitions.

Yunnan Provincial Energy Investment Group Co, a Chinese local government financing vehicle (LGFV), raised $600m on Tuesday from a dual-tranche deal that was nearly nine times covered.

China Eastern Airlines Corp has nabbed S$500m ($366.69m) from its first foreign currency transaction as it makes an attempt to diversify its funding base.

Kingboard Chemical Holdings’ controlling shareholder is paring its stake in the firm through an accelerated sale of shares on Wednesday evening that could raise HK$920m ($118m).

China’s policy of opening up its onshore market while holding a tight grip on capital flows is unsustainable, according to two Chinese academics, who called for a more proactive policy from China in promoting renminbi internationalisation.

KWG Property Holding raised $300m from a seven year non-call four bond on Tuesday, managing to pay a zero to negative new issue premium despite hitting the dollar market for the fourth time in 2017.

China Overseas Grand Oceans Group (Cogo) is taking the rights issue route to pay off debt, proposing to raise HK$4.7bn ($595.9m) from shareholders.

ICBC Financial Leasing Co hit the dollar bond market on Wednesday with a dual-tranche transaction, returning a few months after its last international issuance.

Redco Properties Group has jumped on the short-dated bond trend, launching a 364-day dollar deal on Wednesday.

Swift is looking to further streamline the RMB payment experience with the recent integration of China’s cross-border interbank payment system (CIPS) data with its information platform and the launch of the global payments innovation (gpi) initiative, Eddie Haddad, managing director for Swift in Asia Pacific, told GlobalRMB.

Qingdao Haier Co has raised HK$8bn ($1.03bn) through an exchangeable bond, leveraging on its brand recognition to tighten pricing, according to a source close to the deal.

China’s Avic International Leasing Co sealed its first offshore dollar deal on Monday, manoeuvring through the market to land support from investors outside of its traditional home base.