Northeast Asia

Rose Lee will retire as Hang Seng Bank’s vice-chairman and chief executive on July 1 and will be replaced by a senior HSBC Holdings banker.

RKE International Holdings (RKE) has kicked off pre-deal investor education for a listing in Hong Kong that could raise up to $300m.

Korea East West Power Co (EWP) opened books for a dollar deal at the Asia open on Monday, making a comeback to the debt market after a three year hiatus.

Xin Point Holdings has opened books on a HK$855m ($110m) Hong Kong IPO with a single cornerstone investor taking up 25% of the deal.

Shui On Development (Holding) has become the latest Asian issuer to announce a senior perpetual bond, while Brightoil Petroleum (Holdings) has hired two firms to work on an offshore outing.

People’s Bank of China (PBoC) plans new bitcoin regulations, Stock Connect southbound flows hit new highs, financing costs of renminbi bonds are cheaper offshore than onshore for the first time in 28 months.

China’s FX reserves rise for the fourth consecutive month in May, a Chinese securities regulator says the country will start allowing foreign investors to trade commodities futures onshore, and Ford Motor’s onshore financial arm issues RMB-denominated bonds.

FWD Group raised $500m from a rare zero coupon subordinated perpetual non call five on Thursday, which bankers said works for the Richard Li backed company but is unlikely to catch on with other issuers.

AMTD Group Company priced its second international bond on Thursday, also the only senior perpetual transaction from an unlisted, unrated Hong Kong-based borrower. The lack of suitable comparables posed a challenge, with the issuer deciding to leave some money on the table to support the aftermarket performance.

HNA Group company Hainan Airlines Holding Co will meet investors in Hong Kong next week for an unrated senior bond denominated in dollars

Xinyi Solar Holdings raised HK$1.5bn ($194.5m) from a rights offering after investors flooded into the deal, the company said.

A shareholder in Johnson Electric Holdings sold down its stake for HK$800m ($103m) on Thursday, in a deal buoyed by a surge in demand from long-only funds that surprised even the lead.