Asia Pacific
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Reliance Jio Infocomm, the mobile network operator controlled by India’s Reliance Industries, has raised ¥53.5bn ($498m), the largest Samurai loan for an Asian corporation. -
China Overseas Land & Investment (Coli) raised $1.5bn from a dual-tranche transaction in yet another busy week for Chinese property names, ending a three year absence from the offshore debt market.
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Philippine National Bank, a rare credit in the offshore bond market, raised $300m from a new transaction on Thursday. But despite the novelty value of its deal, investors still demanded a new issue premium.
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China’s FX watchdog indicates that new quotas will be granted for two outbound investment schemes, the country’s economic planner prepares to roll out new negative investment lists, and Citi partners with Bank of China and China Merchants Bank to finance Belt and Road projects.
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Landsea Green Group Co, a Chinese property company, is taking orders for a green dollar bond for a second day, having started bookbuilding on Thursday morning local time.
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Hong Kong-listed Canvest Environmental Protection Group Company, a waste-to-energy provider, is seeking a $150m-equivalent borrowing denominated in Hong Kong dollars.
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Fortune Auto Finance (FAF) is approaching onshore investors with a Rmb3bn ($477.5m) transaction on Friday. The auto company is coming to the market as a number of foreign originators unveil their plans to raise more onshore RMB — from both structured and vanilla fixed income deals.
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A pair of supranationals helped bolster Hong Kong’s green bond ambitions with some SRI deals this week.
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Two pieces of news this week highlight how environmental, social and governance (ESG) investing is conquering the capital markets. But both carry a risk of intellectual laziness.
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S&P Global Ratings is preparing to launch an ESG Evaluation product, competing directly with socially responsible investment (SRI) rating firms such as MSCI and Sustainalytics.
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Public sector bankers lined up to laud a new SSA borrower this week, as the International Development Association (IDA) surpassed expectations on its bond debut. Now, many are eager to see the its next move, with many anticipating a Washington supranational with greater currency flexibility, writes Craig McGlashan.
