Northeast Asia

Volkswagen Finance (China) priced a nearly Rmb8bn ($1.2bn) auto loan asset-backed securities deal this week, the eleventh in its Driver China series.

Dollar and renminbi denominated bonds of cash-strapped Chinese issuer Tsinghua Unigroup Co were heavily sold off this week, following renewed concerns over the company’s debt repayment ability.

Redco Properties Group has tackled some of its upcoming maturities by selling a new $266m bond to refinance debt.

Wind power giant China Longyuan Power Group Corp found overwhelming support for its $300m bond sale, with investors giving the firm’s state ownership, deal timing and sector of operation a big thumbs up.

The two largest shareholders in Chinese clothes maker Shenzhou International Group Holdings have raised a combined HK$5bn ($644.9m) from a block trade.

The Bank of Japan has said that it will pay extra on reserves deposited by banks that become more cost efficient or that merge. A similar policy could well be introduced in Europe too, although perhaps with different aims.

A block trade in Shenzhou International Group Holdings was launched on Tuesday evening. The deal could net up to HK$5.1bn ($659.3m), according to a term sheet seen by GlobalCapital Asia.

Ant Group’s IPO suspension was a big blow to many: the fintech firm itself, the banks that worked on the huge transaction, and the investors that were salivating to get a piece of the stock. It was also a big setback for the Hong Kong Stock Exchange's reputation as an independent and attractive listing destination.

Three Chinese property companies launched dollar bonds on Monday, continuing to take advantage of the post-US election momentum.

Industrial and Commercial Bank of China (Asia)’s syndication and structured finance head has left the lender.

China Orient Asset Management (International) Holding got nearly $10bn of orders for its $750m dual-tranche bond on Monday as it rode on a big rally in market sentiment after the US elections and its own rarity appeal to investors.

Chinese auto finance company Tianjin Great Wall Binyin Automotive Finance Co got an international rating yet again for its return to the auto loan asset-backed securities market, a move that bankers say is in line with its ambitions to becoming more global.