China

AirTrunk’s Rumoured USD Bond, Neoclouds and Private Credit Financing

The APAC market is alive with rumours of Blackstone-backed Australian data center operator AirTrunk eyeing a USD bond. Investment bank-led investor meetings have fuelled speculation, with discussions of potential debt structures that, according to sources, have included an unsecured corporate-level...

Published on Jul 31, 2026

Fish & Chips Takeaways and an Indian Unicorn

It would be easy to look at the recent Singapore High Court proceedings surrounding Indian unicorn tech company Udaan as a straight victory for creditors. But viewed through another lens, Udaan looks set to take away the financing it needed, through a scheme involving a shell company aptly named...

Published on Jul 24, 2026

Data Center Supply-Chain Subsector Q1’26: Structural Tailwinds, Concentrated Risks and a Race to Lock In Capacity

Credit Research: Rucha Amdekar Relevant Items:SanDisk Earnings Analysis, Q3’26Seagate Technology Earnings Analysis, Q3’26Western Digital Earnings Analysis, Q3’26Super Micro Computers Earnings Analysis, Q3 FY’26 For access to these materials, please reach out to [email protected] This...

Published on Jul 22, 2026

Sector Insights: Tech Hardware & AI Infrastructure Quarterly Q1’26: Non-IG AI Infrastructure Debt Swells Past $125B; Neocloud, DC Bonds Trade Wide to Index While Other Hardware Trade Through Median

Credit Research: Rucha Amdekar, Anton Gorbounov, CFA Relevant Items: Link to AI Infrastructure Database on the Analysis Page AI Infrastructure Overview (May) Data Center Supply-Chain Subsector Q1’26 SanDisk Earnings Analysis, Q3’26 Seagate Technology Earnings Analysis, Q3’26...

Published on Jul 20, 2026

Legal Analysis: Framework Surrounding Road King’s Creditor Classification Debate

Legal Research: Jeff Burton Relevant Document: RSA Terms   Octus Asia Highlights: Class composition has become a critical point of contention in Road King Infrastructure Ltd.’s restructuring proposal. It intends to group the Hong Kong-listed property developer and toll road owner’s...

Published on Jun 23, 2026

Xinyuan, Petitioning Creditors Agree to Put Litigation on Pause and Negotiate Over Restructuring Terms; Company Consents to Chapter 11 Case If Talks Fail by July 31 Deadline

Legal Analysis: Josh Neifeld At a trial today on Xinyuan Real Estate’s motion to dismiss its involuntary chapter 11 proceeding, Xinyuan and the three creditors that commenced the case announced that they would cease litigation so that they could pursue settlement talks, and that such talks...

Published on Jul 8, 2026

Lender on Lender Violence, Asia Style: The Road King Creditor War 

Confrontation in Asia is seldom direct. Relationships are of paramount importance in the small and close knit creditor market, which means the lender-on-lender violence that is routine in the more transaction-oriented markets of the U.S. and Europe has not taken root in the region. That makes the...

Published on Jun 5, 2026

Underwriting the AI Revolution: Risk & Return in APAC’s Data Center Boom

Published on Oct 1, 2025

Legal Analysis: China South City Liquidation Reaffirms HK Court’s Strict Requirement For ‘Concrete’ Rx Plan to Adjourn Winding-Up Petitions

Legal Research: Jeff Burton  Octus Asia Highlights: The Hong Kong court continues to require companies to provide a “concrete” restructuring proposal with the requisite creditor support in order to adjourn a winding-up petition; Companies that merely point to commercial discussions with some...

Published on Aug 28, 2025

UPDATE 2:  West China Cement Targets USD Bond Issue in Mid-Oct to Nov, Mandates CICC, HSBC, JPM as Bookrunners; To Receive 80% of CNY 1.65B Xinjiang Sales Proceeds by Sept, 94% by End-2025

Reporting: Ziyu Zhang Wed Aug 27, 2025 05:15 AM ET: Hong Kong-listed West China Cement Ltd. aims to launch a USD dollar bond offering during a suitable window from mid-October through November, according to two buyside sources citing management. The Chinese cement manufacturer, which made the...

Published on Aug 27, 2025