Northeast Asia

Changxing Urban Construction Investment Group Co, a Chinese company focused on construction services, announced its debut dollar transaction on Thursday. But the deal was not priced as of Monday, GlobalCapital Asia understands.

Chinese cosmetics company Yatsen Holdings saw its shares spike 75% on their New York Stock Exchange debut on Thursday, after the firm priced its IPO at the top of the marketed range.

Chinese housing-related platform operator Ke Holdings has raised $2.05bn from a fresh follow-on offering of its New York-listed shares, returning to the equity market less than three months after its IPO.

The tripling of Chinese e-commerce firm Pinduoduo’s shares this year did little to deter investors from pouncing on its follow-on and convertible bond outing. It raised about $5.3bn from the combined transactions, paving the way for further expansion and growth.

Some of us have got quite comfortable working from home — a bit too comfortable.

China’s onshore bond market has been hit with a number of high-profile defaults from state-owned issuers, undermining primary supply and leading to a spike in secondary yields. Addison Gong reports.

The People’s Republic of China returned to the European market on Wednesday, part of its plan to make euro bond outings an annual exercise. The €4bn transaction was a blow-out, with the order book well oversubscribed — and one of the three tranches achieving the sovereign’s first negative yield. Morgan Davis reports.

China Gezhouba Group Co raised $200m from a subordinated perpetual bond on Wednesday.

Central China Real Estate paid up for its $300m return to the bond market on Tuesday, navigating weaker investor sentiment to get its deal over the finish line.

CapitaLand Retail China Trust (CRCT) took advantage of strong investor demand for its placement to fully exercise a greenshoe option and raise S$245.4m ($182.8m) on Tuesday.

Dongfeng Nissan Auto Finance Co is set to launch a Rmb4.9bn ($747m) auto loan asset backed securitization next week.

Baoshang Bank’s complete write-down of close to $1bn of tier two debt offers an invaluable lesson to investors in China’s domestic bond market.