Northeast Asia

Primavera Capital Acquisition Corp, a so-called blank cheque company, has raised $360m from a larger-than-expected New York Stock Exchange IPO that has added further momentum to the increasingly hot asset class.

Orient Overseas (International) has scooped up HK$932.5m ($120.3m) from a top-up placement, increasing the deal on strong anchor investor demand. Two other Hong Kong-listed companies, both from the healthcare sector, also turned to investors on Thursday.

The Asian Development Bank (ADB) has hired banks to arrange a roadshow for its first Panda bond in over a decade, to be launched after Chinese New Year.

Qatar National Bank, a frequent issuer in the offshore renminbi bond market, has sold its first deal of the year in the currency, raising Rmb1.5bn ($232m).

In this round-up, China imposes sanctions on 28 US government officials who were part of the Donald Trump administration, the central bank increases oversight of non-bank payment firms, and profit growth at central government-owned enterprises suffers from the Covid-19 pandemic.

Chinese property developer Sunac China Holdings has managed to reprice its secondary curve by raising $1.1bn from tightly priced bonds.

Mongolian Mortgage Corp's (MIK) dollar bond market return was cancelled on Thursday after pandemic-related protests forced the country's prime minister to resign.

Standard Chartered and United Overseas Bank have provided a HK$5.29bn ($682m) green loan to support a Gaw Capital Partners-led consortium’s acquisition of Cityplaza One.

Chinese vape company RLX Technology raised $1.4bn from its US listing this week, pricing the deal above the marketed range after a huge turnout from investors.

Chinese car manufacturer BYD has closed Hong Kong’s largest primary share placement in more than half a decade, raising HK$29.9bn ($3.86bn). The issuer tapped the market as the local benchmark Hang Seng Index hit a record high, getting strong demand from mainland investors. Jonathan Breen reports.

Macau casino operator SJM Holdings generated a $10bn-plus book for its $1bn debut bond this week, despite tight pricing and the lack of US investors. Its credit profile, the transaction’s timing and a comprehensive marketing strategy worked in its favour.

SK Battery America sold a $1bn green bond this week, overcoming hurdles involving concerns about recent downgrades, and a legal battle with a competitor. Morgan Davis reports.