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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.

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.

Hong Kong-listed oil company Hilong Holding pushed back the exchange deadline for its 2020 bond for the fourth time this week, leaving only a weekend between the exchange deadline and the notes’ maturity on Monday.

Legal & General’s order books peaked at over £4bn ($4.96bn) as it made its first sale of restricted tier one (RT1) capital this week, joining many of its UK peers in the asset class. The insurer used the popularity of its trade to tighten the pricing and leave no new issue premium behind.

China National Petroleum Corp (CNPC) has returned to the dollar bond market after a six year absence, selling a three-tranche deal that generated $21bn of orders at the peak.

The Republic of Indonesia rolled out its annual Islamic finance transaction on Tuesday, taking $2.5bn from a three-tranche sukuk. The sheer strength of investor interest surprised the bankers on the bond, leading to a hefty 70bp tightening and a deal that offered negative new issue premium.

A spate of real estate and government-linked borrowers from Greater China flocked to the dollar bond market on Tuesday.

China Pacific Insurance (Group) Co has raised $1.81bn from its listing of Global Depository Receipts, becoming just the second company to use the London-Shanghai Stock Connect scheme.

Europe’s corporate bond market burst into life on Tuesday with more than 10 primary deals on screens, as the US Federal Reserve’s plans to buy individual bonds brushed aside fears of a resurgence of Covid-19.

The UK electricity operator National Grid has raised a multi-export credit agency (ECA) covered loan, which also adheres to the Loan Market Association’s Green Loan Principles.

The New Development Bank was not able to claim a seat among the top supranational borrowers as it brought its debut dollar benchmark on Tuesday, pricing at a spread of over 30bp to the premium triple-A rated names, according to on-looking SSA bankers.