Chinese companies have been keeping debt bankers in Asia busy since the start of 2013, driving record levels of issuance in the G3 currencies and powering the high-yield bond markets.

Asia corporates, excluding those based in Japan, had issued $25.9bn worth of G3 debt - notes issued in dollars, euros and yen - as of yesterday; the highest year-to-date figure on record, according to Dealogic.