Northeast Asia

Red chip issuer Yuexiu Transport Infrastructure ditched its usual bullet bond structure in favour of a five year puttable Panda outing this week.

Hong Kong’s government returned to the green bond market with a $2.5bn triple-tranche deal this week, making the most of growing investor demand for sustainable investment opportunities. Morgan Davis reports.

Tencent Holdings is testing bank appetite for a jumbo loan of $6bn as it gets ready to once again shun syndication in favour of a club deal. But the razor-thin pricing on offer is likely to pose a challenge — as will a recent crackdown on some of China’s largest technology companies. Pan Yue reports.

Hainan State Farms Investment Holdings Group Co debuted in the dollar market on Wednesday with a three year bond.

Chinese property company Kaisa Group Holdings raised $200m from a rapid return to the debt market this week.

The Hong Kong government cemented its green credentials further this week with a $2.5bn triple-tranche bond outing.

China Education Group Holdings sealed a HK$2.03bn ($261.3m) top-up placement this week, raising capital for the expansion of its school network. But its stock took a hit in the aftermarket, dropping more than 10%.

Chinese domestic bonds plummeted on Tuesday and continued their fall on Wednesday morning, amid growing concerns around recent tight liquidity conditions onshore and a potential tightening in monetary policy.

More Chinese real estate borrowers headed to the dollar bond market on Tuesday, as bankers tackle a supply rush in the lead up to the Chinese New Year holidays in mid-February.

Hong Kong-listed Sun Hung Kai Properties has returned to the loan market for a HK$5bn ($645m) club deal. It is testing lender appetite at a time of growing selectiveness around the sector.

Hyundai Heavy Industries Co is planning an IPO later this year in South Korea. It is looking to raise W1tr ($905.5m) to invest in new technologies.

China Citic Bank Corp has raised $550m from its return to the public dollar debt market after a break of more than three years. The bank priced inside fair value estimates, leading to a large drop in the final order book.