CDB goes green to fund Belt and Road projects
China Development Bank Corp priced its maiden international green bond on Thursday, raising close to $1.7bn from a dual-currency transaction that will fund Belt and Road related projects. The deal offered diversification not only to the issuer but also to investors.
Initial price guidance for a five year dollar bond was set at the 100bp over US Treasuries area, and at 60bp-65bp over mid-swaps for a four year euro tranche.
CDB had roped in different groups of banks to handle the two tranches. The joint bookrunners and joint lead
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