Northeast Asia

China Evergrande Group is readying investors for an exchange and new money offering, as the property company looks to deleverage.

China Traditional Chinese Medicine Holdings is returning to the Panda bond market for Rmb2bn ($294.2m) three year notes, according to documents filed with Shanghai Clearing House.

A $280m refinancing for Kingsbridge, the holding company of cable TV service provider Asia Broadcast Satellite (ABS), has been allocated among 14 lenders.

Korean Air Lines (KAL) has become the first high yield issuer from the country to sell an international bond in nearly four years. Its $300m inaugural standalone deal is also evidence of Chinese banks slowly gaining clout in the region, with BOC International (BOCI) becoming the first Chinese firm to lead a Korean offering on a sole basis. Addison Gong reports.

Chinese property developers are increasingly looking at 364 day bonds as a way to sidestep approval delays from the National Development and Reform Commission, after Fantasia Holdings Group Co sold a $350m public note this week. Short-term bonds offer a quick fix for borrowers, but there are concerns over whether this is sustainable in the longer run, writes Addison Gong.

Celltrion Healthcare has firmed up the price range for its up to W1tr ($897m) flotation on South Korea’s Kosdaq, with bookbuilding set to kick off in mid-July.

Optoelectronic display manufacturer Tunghsu Group Co wrapped up its inaugural offshore deal on Wednesday, finding support from domestic and international accounts, despite operating in a relatively unfamiliar industry.

We’ve all had our moments of celebrating a bit too hard and imbibing a tad too much. Normally, the worst that happens is a rough morning in the office the next day. But for a friend of mine, a few cheeky drinks proved disastrous.

Fosun International-backed Sisram Medical is looking to list in Hong Kong for around $200m, filing a draft prospectus on Wednesday.

Guangzhou Rural Commercial Bank Co’s HK$8.34bn ($1.07bn) Hong Kong IPO is covered after three Mainland investors lent their support as cornerstones.

Investors went crazy for WuXi Biologics’ HK$3.9bn ($500.4m) Hong Kong IPO, driving pricing to the top of expectations as hundreds of global accounts poured in.

There was not enough stock to go around when TPG Stallion sold the last of its equity in Li Ning Co this week. The HK$885.2m ($113.6m) fundraising not only priced at a small discount but also gained nearly 10% in secondary.