Greater China

Bank of China (BOC) raised $1bn from a dual tranche transaction at a negative premium on Thursday, after strong demand from its large syndicate group.

Hygeia Healthcare Holdings is on track to price its Hong Kong IPO at the top of the marketed range, according to a source close to the deal.

China Oilfield Services (COSL) sold its first dollar bond in five years on Thursday, nabbing $800m from a dual-tranche deal.

Taiyuan Longcheng Development Investment Group Co, a local government financing vehicle (LGFV), has raised $300m from a three year bond.

Haitong International Securities Group took advantage of a wide open market this week, raising $400m from a three year bond that priced inside fair value after heavy demand from the leads.

Greentown Management Holdings Co has uploaded post-listing hearing documents with Hong Kong’s stock exchange as it prepares to launch its IPO.

Ebang International Holdings, a Chinese cryptocurrency mining hardware maker, has kicked off its IPO of up to $125.6m on Nasdaq in the US.

China Pacific Insurance (Group) Co became the second company to use the London-Shanghai Stock Connect scheme this week, listing Global Depository Receipts on London’s bourse. The deal could spur further London-bound issuance by Chinese firms, according to bankers in the UK and Asia. Jonathan Breen and Aidan Gregory report.

The Asian equity-linked bond market was flooded with deals on Wednesday as Far East Horizon, 3SBio and China Mengniu Dairy tapped investors for a combined $760m.

China sold the first two tranches of its Covid-19-themed special treasury bonds this week, pricing the Rmb100bn ($14.1bn) notes well inside the treasury curve and market expectations. There are some fears about pressure on liquidity, given the total funding target of Rmb1tr, but market watchers said there is little cause for concern just yet. Addison Gong reports.

Hong Kong power generator Castle Peak Power Co took the nascent transition bond market a step further this week, selling a $350m deal that showed the potential for the sector. Morgan Davis reports.

Canvest Environmental Protection Group Co, a Hong Kong-based waste-to-energy company, has returned to the loan market for a HK$1.97bn ($251.6m) unsecured deal. In an unusual move, the firm will postpone its covenant tests for the first six months. Pan Yue reports.