Asia Pacific
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Bond market alpha types may find it galling when the fusty old loan market can teach them an innovative new structure. And yet, that may be about to happen. -
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Finance for climate-related projects in emerging and developing countries provided by the world’s five largest multilateral development banks (MDBs) hit an all-time record of $43.1bn in 2018.
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Chinese automobile conglomerate Geely has used an exchangeable bond to monetise the volatility of its stake in AB Volvo, the Swedish maker of heavy-duty vehicles, to secure €400m of funding at a zero coupon.
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After establishing itself as a top three player in European investment banking, Citi is now making an ambitious push for the summit in its home market, writes David Rothnie.
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Chinese brokerage Huatai Securities this week will become the first company to list shares in London via the London-Shanghai Stock Connect programme. The deal, which is oversubscribed, is a landmark transaction and an important step for the internationalisation of China's capital markets.
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Georgian TBC Bank printed its long-awaited $300m five year bond on Wednesday from a book of over $700m.
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China General Nuclear Power Group has opted for a green loan for its first offshore syndication in almost 30 years. Despite tight pricing, the $500m fundraising is expected to receive a warm welcome from bank lenders who are eager to lend to a state-owned company with strong credentials, writes Pan Yue.
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China’s central bank offered investors a way of hedging the risk of a bank certificate of deposit this week, allowing Bank of Jinzhou to raise Rmb2bn ($289m) after suspicions it would be the next small bank to fail. Rebecca Feng reports.
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China National Chemical Corp (ChemChina) surprised the market with a change in strategy for its latest bond offering this week. High profile as always, the state-owned company’s four-tranche transaction was smaller in size, but tighter in price. Addison Gong reports.
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ESR Cayman, which builds and leases warehouses, has pulled its float on the Hong Kong Stock Exchange, delaying the deal indefinitely.
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China’s Zhenro Properties Group wrapped up its first attempt at issuing perpetual bonds offshore this week, selling the note with a senior-to-perp differential that was tighter than some of its higher rated peers.
