Northeast Asia

Guotai Junan International Holdings broke a two-year absence from the dollar bond market this week to raise $400m.

Chinese financial leasing company Far East Horizon raised $500m from a bond sale on Wednesday after receiving orders of more than $3bn.

BofA puts China tech in focus – Davis Polk adds to Beijing team – SGX plants seeds for Orchid bonds

Guangzhou R&F Properties Co made a rapid return to the debt market this week for a $325m bond that proved popular with investors in the primary and secondary markets.

The Export-Import Bank of Korea has returned to the offshore renminbi (CNH) bond market after nearly three years, to take advantage of a recent rally in the CNH swap rate and investor demand for high quality Korean deals.

Agricultural Bank of China (ABC) took a three-pronged approach to its deal on Tuesday, raising nearly $1bn across two dollar bonds and one Hong Kong dollar tranche. The bank was able to squeeze the spread on its notes to new lows, riding on the strong secondary market performance of deals from the big Chinese banks.

SK Holdings pocketed W1.12tr ($1bn) from a block trade of SK Biopharmaceuticals, but the deal hit the South Korean drug company’s share price hard, sending it tumbling more than 17%.

Toyota Motor Finance (China) Co plans to launch its first auto loan securitization deal of 2021 under the Toyota Glory series next week. The originator will open the onshore auto ABS market after the Lunar New Year break with a Rmb5bn ($774m) transaction — its largest to date.

Hong Kong-listed Hope Education Group has tapped equity investors for $595.5m from a combined top-up share placement and debut convertible bond.

China Merchants Group’s leasing subsidiary has returned to the loan market for a $479.75m borrowing.

The huge retail investor demand for some recent Hong Kong IPOs has caught the stock exchange’s attention, leading to an investigation into how retail accounts place orders. The move will offer some welcome relief to institutional investors losing out on some of the city’s largest listings.

Bank of Qingdao has become the latest Chinese bank looking to sell tier two bonds in the onshore market, as the country's lenders step up their issuance this year.