CDB Leasing sells first dollar tier two bond

By Morgan Davis
23 Sep 2020

China Development Bank Financial Leasing Co had to tackle questions from investors and weaker market conditions to sell the first dollar tier two bond from a Mainland leasing company.

The transaction, which raised $700m, also marked the first time CDB Leasing directly sold a dollar bond. CDB Leasing, which carries an A1/A/A+ rating, has used special purpose vehicles to issue its bonds in the past. Those transactions were backed by guarantees and keepwell deeds.

But ...

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