Northeast Asia

Chicago-headquartered Kirkland & Ellis has poached a lawyer with 15 years of experience for its corporate practice in Hong Kong.

State-owned hydropower company China Three Gorges Corp is marketing its maiden international green bond denominated in euros. The firm raised Rmb6bn ($900m) from an onshore green outing two years ago.

The upcoming Bond Connect has generated a lot of interest, but not all market participants are pleased with China’s latest attempt to entice foreign investors, with some seeing the new scheme as a confusing addition to an already complex investment landscape.

China's Ministry of Finance announced on Tuesday that it will be issuing a total of Rmb14bn ($2.06bn) of offshore renminbi treasury bonds this year, and will also sell its first dollar deal in over a decade in the second half.

China Huarong Asset Management Co is planning to raise funds through a non-public issuance of offshore preference shares.

Fantasia Holdings Group Co surprised markets last week with a 364 day bond, opting for a short-term note to circumvent delays in offshore funding approval from the Chinese regulator. At first glance, the notes appear to offer a quick solution for property companies with looming funding requirements — but borrowers should take a closer look at the many disadvantages that come with such short term deals.

Shui On Land priced its senior perpetual bond on Monday in a busy primary market in Asia ex-Japan. The $500m trade was multiple times covered, as demand for perps continues to be strong in the region.

Korea East West Power Co (EWP) broke back into the market after a three year hiatus, grabbing $500m from a five year bullet on Monday.

China Traditional Chinese Medicine Holdings (CTCM) this week issued its second Panda bond, raising Rmb2bn ($294.2m) from a three year note amid difficult market conditions.

ICBC International has lost its co-head of debt capital markets in Hong Kong, GlobalCapital Asia understands.

GCL-Poly Energy Holdings, which makes polysilicon and silicon wafers for solar power generation, has picked two lenders to arrange a $200m fresh money borrowing.

Jeil Holdings Co has launched a W462.6bn ($409.5m) float in South Korea, seeking new capital via two domestic bookrunners.