Northeast Asia

Mainland firm Harvest Property Holdings is looking to join its peers south of the border, with a plan to float on the main board of the Hong Kong Stock Exchange.

Red chip issuer Yuexiu Transport Infrastructure is preparing to sell its first Panda bond in the interbank bond market, having filed for a Rmb2bn ($302.7m) issuance programme this week.

ASM International has pocketed HK$4.1bn ($526.4m) after offloading a chunk of ASM Pacific Technology stock, pricing it toward the top end of guidance.

Hong Kong-listed Huarong International Financial Holdings is gearing up for a Rmb2bn ($302.7m) Panda bond private placement, which would mark the financial issuer’s first outing in the asset class.

China YuHua Education Corp raised HK$936.7m ($120.1m) from a quick return to the equity market after listing in February.

China Eastern Airlines Corp has named banks to lead its first Singapore dollar bond, with a roadshow being held next week.

South Korean budget carrier Jin Air expects to raise as much as W381.6bn ($343.0m) with its IPO, which launches at the end of the month.

Hong Kong’s overnight interbank lending rate spiked dramatically this week, after a horde of retail investors borrowed on margin to place bets on two IPOs.

Several Chinese borrowers have hit the loan market for two year money in recent months, in contrast to more established firms from the mainland which are pushing out tenors on their borrowings. While typically banks and borrowers prefer to lock in longer-term loans, for some the nature of the business and the lenders’ unfamiliarity with the company necessitates a shorter life to mitigate risks.

Cathay United picks corporate banking head — Raciti set to run ANZ Korea — Ramachandran confirmed for Westpac CIB — Standard Chartered rings the changes

Yunnan Provincial Energy Investment Group Co will meet investors in Singapore and Hong Kong for its first bond of the year. The local government financing vehicle (LFGV) last priced a dual-trancher in December.

Industrial and Commercial Bank of China closed a $1.5bn three tranche deal through its New York branch on Wednesday, finally closing the 10 year bond sale it hoped to do last year.