Northeast Asia

After a 13 year absence, China's Ministry of Finance (MoF) is getting closer to tapping the dollar bond market again. But although some analysts say the issuance will help cut costs for Chinese corporates borrowing abroad, others were left scratching their heads over the timing of the deal given China's growing pile of FX reserves.

ZhongAn Online P&C Insurance Co has opened books for its much-anticipated Hong Kong IPO, which could raise up to HK$11.9bn ($1.5bn).

China’s Tianjin Lingang Investment Holding Co grabbed $260m from an open-and-shut debut deal on Friday, which was driven by reverse enquiry.

South Korean dollar bonds are hitting the market unabated despite a new missile launch from North Korea last Friday, with Hyundai Capital America and Kookmin Bank marketing new paper.

Chinese developer KWG Property Holding is back in the dollar debt market just six months after raking in $400m from a five and a half year bond.

Société Générale Corporate & Investment Banking has brought in a senior executive from London to head its Asia Pacific acquisition financing unit.

Hong Kong-based Sun Hung Kai Properties has received Chinese regulators’ blessing to issue Rmb10bn ($152.9m) worth of Panda bonds within the next two years, according to the National Association of Financial Market Institutional Investors (Nafmii).

Venezuela replaces the dollar with the renminbi as the quoting currency for its oil exports, the People’s Bank of China says bankers are confident about the Chinese economy, and the Shenzhen-Hong Kong Stock Connect sets a new record in turnover volume.

Korea National Oil Corp’s (KNOC) Canadian arm grabbed a $285m bond on Thursday, securing its deal before North Korea fired its second ballistic missile over Japan on Friday morning.

Tsit Wing International, a coffee and black tea supplier, is vying for approval to list in Hong Kong, having filed a draft prospectus with the city’s stock exchange this week.

Chinese storage and transportation equipment provider CIMC Enric Holdings is seeking a $150m three year loan from the offshore market.

Red Star Macalline Group Corp priced a tight $300m debut deal on the back of a book nearly seven times subscribed, after investors chased its notes because of the diversity benefits.