Northeast Asia

Mainland-based Xinte Energy Co raised HK$1.03bn ($132m) on Wednesday by selling a block of new H-shares, its debut equity issue.

China’s regional lenders have been busy tapping both the onshore equity and debt markets for capital this year, but a slew of recent rating downgrades serve as a warning that the pressure facing the country’s small lenders remains high. Addison Gong reports.

The Thai subsidiary of Taiwan’s Chailease International Finance Corp has returned to the loan market.

Hyundai Capital Services sold a three year bond denominated in offshore renminbi this week, raising Rmb700m ($108m) at an attractive level versus its existing dollar funding.

US-listed hybrid electric vehicle maker Li Auto launched a billion-dollar listing in Hong Kong this week, providing a much-needed boost for the bourse after a spate of announcements from China’s regulators brought deal flow to a near halt. Jonathan Breen reports.

They say it takes three seconds to form an opinion of someone. So, naturally, it’s important to make a great first impression.

CDB Aviation, an Ireland-based subsidiary of China Development Bank Financial Leasing Co, has raised a $660m portfolio financing from banks.

Two Chinese local government financing vehicles courted offshore investors on Wednesday to raise a combined $450m.

Bank of China took its pivot away from Libor-linked bonds further this week by selling a dollar note tied to the secured overnight financing rate (Sofr) and a sterling-denominated deal that was the first Sonia-linked bond from a Chinese issuer. While BOC’s transaction was important, bankers say the new benchmarks are still slow to take off in Asia. Morgan Davis reports.

Beijing Hyundai Auto Finance Co sealed a Rmb4bn ($619m) revolving auto loan ABS this week, paving the way for its peers to tap China’s domestic market in the coming months.

China Ping An Insurance Overseas (Holdings) found strong support for its $550m 10 year bond, defying initial concerns around volatility in longer tenors.

Taiwan’s Qisda Corp, which designs and makes electronic products, has wrapped up the first round of bidding for a NT$10bn ($358m)-equivalent dual currency loan.