Northeast Asia

Mexico returned to familiar territory by becoming the first Latin American borrower of the year to issue bonds on Monday. The format, however, was less familiar, as the 50 year SEC-registered $3bn bond — launched at around 11am New York time — will be listed on the stock exchanges of both Luxembourg and Taipei.

A block sale in the shares of Kingboard Laminates Holdings hit the market on Monday evening as its parent and an affiliate looked to trim their stake in the company.

Asia’s loans bankers are starting the new year with some optimism that the market will improve after a difficult 2020.

A trio of Chinese companies, including healthcare technology provider Yidu Tech and television series producer Strawbear Entertainment Group, kicked off their IPOs in Hong Kong at the end of December as they prepare to be the first new firms to start trading on the bourse in 2021.

The Asian dollar bond market reopened with a bang on Monday as six borrowers launched new transactions, with DCM bankers preparing for a busy January.

Chinese corn oil manufacturer Shandong Sanxing Group Co has extended the deadline for an exchange offer on its $200m 7.99% 2021 bonds for a third time.

In this round-up, China and the European Union wrap up negotiations on a bilateral investment agreement, the bourse in New York moves to delist three Chinese telecommunication giants, and the Mainland regulators have increased oversight on loans in the real estate sector.

In the second part of GlobalCapital China’s awards announcements, we reveal the winning banks across Panda bonds and ABS, as well as the best bank for securities services.

GlobalCapital China is pleased to announce the winners of its annual awards, recognising the banks, issuers and individuals that have made the biggest contribution to developing China’s onshore markets. In part one, we reveal the most impressive issuers in the FIG, corporate and SSA categories.

In the final part of GlobalCapital China’s awards announcements, we reveal the year’s key innovation – and the individual who has made the greatest contribution to reforming and internationalising the onshore market.

Foreign central bank action sparked arbitrage opportunities in Swiss francs to shrink in 2020, so investors took a more domestic approach. As foreign issuance dries up, so too do Swissie mandates for international desks. Frank Jackman reports.

How important is reading the offering circular (OC) on a bond? Not very, according to some investors. However, that approach sets a dangerous precedent.