Northeast Asia

China’s Yestar International Holdings Company and South Korea’s Nonghyup Bank have kicked off investor meetings for their respective bond offerings.

Greenland Holding Group raised $300m on Monday with a deal that was priced through its curve — a feat that was possible despite the firm being hit with a ratings downgrade earlier this year.

An improvement in global risk sentiment has helped steepen the CNY curve this week but sources expect weakness in upcoming domestic data to limit scope for further steepening from current levels, writes Deirdre Yeung of Total Derivatives.

Jiangsu NewHeadLine (NHL) Development Group bagged $100m on Monday with a tap of its existing $200m 6.20% 2019s, seizing one of the last windows of issuance before a busy September begins.

China Mengniu Dairy has added seven members to the syndicate of lenders for its $200m fundraising.

Action in the Asia ex-Japan dollar bond market picked up a notch on Tuesday with a number of issuers launching transactions.

Nasdaq-listed China XD Plastics Co has signed a $180m two year financing after a senior syndication phase that lasted a month.

HSBC’s head of Hong Kong/China equity research Steven Sun said in a media briefing on Monday that the impending launch of the Shenzhen Hong Kong Stock Connect scheme is likely to trigger a huge increase in the foreign ownership of Chinese stocks.

Asian debt capital market bankers are advising bond issuers to hit the market sooner rather than later in September, on the back of indications from the Federal Reserve that the case for an increase in rate hike had “strengthened in recent months”.

A subsidiary of Lee & Man Paper Manufacturing has signed loans worth HK$4bn ($515.6m) to refinance debt, including bilateral loans, and for general corporate funding.

Jiangsu NewHeadLine (NHL) Development Group has returned to the debt market just months after making its debut, with the Chinese local government financing vehicle tapping its January notes.

Citi is set to lose its head of Asia Pacific debt syndicate in Hong Kong, as Duncan Phillips is leaving to join financial services technology firm Ipreo.