Northeast Asia

China Aoyuan Group had to pay up to sell a $350m bond on Monday, as investors demanded compensation for the property company’s low rating and the deal’s long tenor.

Bank of America has promoted one of its telecommunication, media and technology (TMT) bankers to the newly created position of China technology investment banking head, in a bid to capture growth opportunities in the sector.

A consortium led by CVC Capital Partners is seeking a HK$2bn ($257.9m) loan to support the take private of Hong Kong fashion retailer I.T.

International law firm Davis Polk &Wardwell has hired capital markets lawyer Jason Xu for its Beijing team.

Joinn Laboratories has sealed its HK$6.54bn ($843.8m) listing at the top of the price range, tapping into Hong Kong’s IPO market as demand hits fever pitch, according to a source familiar with the matter.

Korea Expressway Corp is in the process of hiring banks to lead a planned dollar bond transaction.

In this round-up, China urges the US to help improve their bilateral relationship, the banking and insurance regulator sets restrictions on lenders participating in the online loan market, and FTSE Russell decides to include 11 Star market stocks in its global equity benchmarks.

Crédit Agricole has picked banks to run a planned senior preferred Panda bond, its third outing in the format. An investor call has been scheduled for next week.

SciClone Pharmaceuticals, which manufactures a possible treatment for the coronavirus, hit the IPO market with a HK$2.18bn ($281.2m) offering on Friday.

Ping An Insurance has raised $250m from the first offshore bond from China following the Lunar New Year holiday. It was also the only borrower from Asia ex-Japan to hit the dollar debt market this week.

In this round-up, consumer inflation in China disappoints in January, lenders extend a record amount of new renminbi loans last month, and the banking and insurance regulator asks financial institutions to step up their reputational risk management.

Asia Allied Infrastructure Holdings, a Hong Kong-listed property developer and investor, has returned to the loan market after one year. It has raised HK$1.3bn ($167.6m) from a group of five banks.