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BAIC Motor has raised HK$11.04bn ($1.42bn) after pricing its IPO — one of the last billion-dollar listings for Hong Kong in 2014 — just above the midpoint of guidance.

Four banks have supplied a $1.1bn 365 day loan that helped China Communication Construction Co International (CCCC International) clinch Leighton Holdings’ construction asset John Holland for A$1.15 bn ($954m).

Egyptian General Petroleum Corp is seeking a three year $1.5bn term loan in the first syndicated loan it has obtained from local and foreign banks since 2010, said a banker on the deal.

United Biscuits has cut the margins and rejigged the structure of the £985m-equivalent loan package it is seeking to finance its takeover by Turkish foods group Yildiz Holding.

Insurance capital is finding unexpected favour even as most other European debt markets are stopped in their tracks. With insurers rushing to take in fresh subordinated debt ahead of new EU regulations next month, and investors increasingly receptive to higher yielding instruments from a less volatile sector than banks, more than €2.3bn ($2.85bn) of deals emerged this week. And as Nathan Collins and Graham Bippart report, more could emerge in the coming days.

United Biscuits has cut the margins and rejigged the structure of the £985m-equivalent loan package it is seeking to finance its takeover by Turkish foods group Yıldız Holding (Yildiz).

La Mondiale became the third insurer to sell perpetual sub debt this week on Thursday, hitting its minimum spread target for a non-call 11 year deal despite choppy market conditions.

Shanghai-listed textile dye maker Zhejiang Longsheng Group (Lonsen) has raised a $300m loan from a club of seven banks, said a banker on the deal.

The Hong Kong IPO market was off to a busy week, with Dalian Wanda Commercial Properties and Linekong Interactive rushing to complete chunky deals before the markets break for Christmas. But the flood of activity also left one victim in its wake, as M800 chose to delay bookbuilding until January rather than compete with its rivals for investor attention.

India’s divestment plan is off to a good start, with the government offloading a 5% stake in Steel Authority of India (Sail) on December 5 to raise around Rp17.15bn ($277m) in a day-long trade that was well received by institutional and retail investors.

A $3.2bn piece of Tata Steel’s $5.6bn multi-trancher has attracted a whopping $1.089bn in commitments during general syndication. The response follows a successful senior phase, which saw eight banks pile in.

PICC Property and Casualty Company has raised HK$9.15bn ($1.18bn) in a rights issue of both H- and A-shares that was heavily oversubscribed.