China

State Power Investment Corp’s $500m senior perpetual bond attracted plenty of demand in both the primary and secondary markets, despite coming with a structure that has fallen out of investor favour for much of 2018.

Everbright Sun Hung Kai Co priced a modest $200m bond on Wednesday when most investors were focused on other high profile transactions.

A generous initial guidance from KWG Group Holdings for its $400m bond issuance ended up repricing the Chinese single-B rated curve lower on Wednesday.

Bond Connect investors and service providers are looking at further upgrades for the scheme following the recent move to allow block trading. At the top of the list is a desire among investors to increase their hedging options, which trading platform Tradeweb is working to deliver, the firm tells GlobalRMB.

International law firm Dorsey & Whitney has added four new people to its US-China team in a bid to take advantage of continuous flow of business between the two countries.

The first dollar additional tier one (AT1) deal from a Chinese city commercial bank in almost a year struggled to find its feet in the secondary market on Wednesday.

Industrial Bank Co’s Hong Kong branch has priced a dual-currency green bond, offering a pick-up of around 10bp over recent prints from China’s big four lenders.

Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.

Beijing Enterprises Group is in the market for a HK$4.5bn ($575m) five year term loan launched through eight banks.

Chinese paper manufacturer Youyuan International Holdings is seeking commitments for a $120m refinancing loan, wooing banks with a juicier margin when compared to its last fundraise.

Citi is looking to strengthen its solo operations in China at the same time as seeking a new partner for a majority-owned securities joint venture, GlobalCapital Asia understands.

The rising trade war between China and the US will be a major factor determining the path of debt and equity markets next year, according to asset manager Aberdeen Standard Investments.