Northeast Asia

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.

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.

Chinese chemical company China National Bluestar (Group) Co raised $500m from a subordinated perpetual bond on Wednesday.

The Hong Kong Stock Exchange is creating a sustainable and green exchange to centralise data and information from the sector in the region.

Spare a thought for your colleagues in London or New York. Most of them are still working from home, juggling over-crowded, pointless conference calls with parental oversight and even the odd bit of real work. Those of us in Hong Kong are back to normal.

China Construction Bank Corp has sold the first Basel III-compliant tier two bond from China since the global outbreak of the Covid-19 pandemic, raising $2bn.

Chinese real estate developer Zhongliang Holdings Group Co took $250m from a sub-one year bond on Wednesday, prioritising size over price for the deal.

Barrick Gold Corp has raised HK$1.63bn ($209.7m) after paring most of its stake in Chinese firm Shandong Gold Corp.