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  • Zhejiang Geely Holding Group, a Chinese developer and seller of vehicles, has closed its third offshore loan of the year, raising €400m from a group of eight lenders.
  • The Asian Infrastructure Investment Bank (AIIB) and Singapore’s Clifford Capital have launched a new infrastructure debt financing platform that will remove some of the pressure on banks financing projects. It will also position Singapore as the leader in a sector that desperately needs private funds, writes Morgan Davis.
  • I recently went to Beijing to catch up with a young friend who works at a large Chinese state-owned bank.
  • Chinese car manufacturer Geely Automobile Holdings came out with its first perpetual deal this week, raising $500m while paying a small premium over its outstanding senior bond.
  • China Construction Bank, the largest originator of Chinese RMBS, wrapped up a Rmb11.52bn ($1.64bn) four tranche deal on Wednesday. It was just the latest of a regular series of mortgage-backed deals from the bank — but this time, it doubled-down on marketing to foreign investors.
  • Oil and Natural Gas Corp (ONGC), the largest crude oil and natural gas company in India, tussled with bond investors during marketing for its latest dollar deal this week. Investors pushed back against ONGC’s demanding terms and forced a last-minute flip-flop over a change of control clause. Morgan Davis reports.