Northeast Asia

South Korean heavy industry company Doosan Infracore Co priced a new bond on Tuesday, giving investors a break from the procession of offerings from China. Although Korean borrowers are known for their aggressive pricing strategy, recent market volatility forced Doosan to pay up.

Credit Suisse has allocated a three year bullet loan for China Auto Rental (CAR), with the company raking in $250m after general syndication.

Cancer drugs maker BeyondSpring has filed to list on Nasdaq to raise $100m, according to a Securities and Exchange Commission filing.

Country Garden Holdings launched a 10 put five dollar deal on Wednesday, marking its second transaction in less than two months, while Fosun International is pursuing a tap of its $300m 2023s.

Volkswagen Finance (China) has opted for a new structure with its latest return to the China auto ABS market with its upcoming Rmb3.98bn ($587m) Driver China Auto five trust set to feature a revolving pool for the first time.

The Mutual Recognition of Funds (MRF) scheme continues to attract interest from mainland retail investors nearly a year after its launch. However, it is being stifled by poor distribution efforts, scarcity of eligible funds, as well as foreign fund manager uncertainty about what is the best route into China.

The Chinese government is starting to sound like a broken record by repeating over and over again that there is nothing to fear from the continued depreciation of the renminbi. But with the currency hitting an eight-year low against the dollar, it’s time for Beijing to provide some genuine guidance before the markets stop listening for good.

Studio City, Shandong Ruyi Technology Group Co, Yanlord Land (HK) and Chengdu Xingcheng Investment Group Co are wooing investors for their respective Reg S bonds. Meanwhile, Shaanxi Xixian New Area Fengxi New City Development & Construction will go on a non-deal roadshow.

Two live IPOs in Asia are seeing an encouraging response from investors, with Donald Trump’s surprise victory in the US presidential election having little impact on their bookbuilds.

Fertiliser producer Dongguang Chemical is planning to list its shares in Hong Kong, according to a draft prospectus filed with the city’s bourse on Monday.

Nomura has tapped James Pearson as head of FIG for Asia ex-Japan, based in Hong Kong, poaching him from Standard Chartered.

Chinese sportswear manufacturer Xtep International Holdings is looking to tie up a $100m amortising loan, having enlisted a Hong Kong lender to arrange it. Xtep has sold syndicated loans in the past but is reaching out to a smaller group of banks this time.