Asia Pacific
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Power Construction Corp of China has raised $800m from a dual-tranche offering that keeps senior perpetual supply from Chinese state-owned enterprises (SOEs) alive. -
In this round-up, Pan Gongsheng, vice governor of the People’s Bank of China, suggests cancelling quota limits for the Qualified Foreign Institutional Investor (QFII) scheme, the National Development and Reform Commission (NDRC) heightened scrutiny on offshore bond issuers, and the Hong Kong Insurance Authority prepares the ‘Mainland-Hong Kong Insurance Connect’.
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Green bond specialists are divided over whether proceeds of labelled green bonds can be used for operating expenditure, or whether they should mainly or entirely be used for capital expenditure.
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A structure developed in the loan market, in which a company’s financing margin can be lowered during the life of the deal if it improves its environmental, social and governance credentials, has crossed over into the Schuldschein market. That raises the possibility it could make the leap to the bond market, write Silas Brown and Jon Hay.
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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.
