Asia - Securitization - ABS

The $402.7m trade was anchored by the Asian Infrastructure Investment Bank

Singaporean sovereign wealth fund unit is offering dollar notes to retail investors for the first time

Bayfront Infrastructure Management has sold the world's first public sustainability securitization deal that was part of a rare project finance trade. Its chief executive tells GlobalCapital Asia that this is unlikely to be its last.

Singapore's Temasek Holdings and its wholly owned Azalea Asset Management sold the fourth iteration of the Astrea collateralised fund obligation (CFO) this week. They raised more than $450m from the institutional portion of the deal, using a tried-and-tested structure.

Hong Kong is set to welcome catastrophe bonds from mainland Chinese insurance companies, after an agreement to relax issuance rules.

China’s asset backed securities (ABS) market has had a stellar year so far, with volumes jumping thanks to a big push from the regulators. But it’s not just a numbers story. The depth of the market has also improved, with better secondary liquidity and more offshore participation.

Temasek Holdings and its wholly-owned Azalea Asset Management this week brought out Astrea V, the latest collateralised fund obligation (CFO) backed by cash flow generated from private equity funds, finding an even better response than their last outing.

BMW Automotive Finance (China) Co is making its first foray into the ABS market this year, with bookbuilding for the Rmb4.5bn ($656m) Bavarian Sky China 2018-1 set to start next Monday.

China Reinsurance (Group) Corp’s chairman recently held talks with the Singapore deputy prime minister about catastrophe bonds. The conversation’s timing is bound to raise eyebrows, given the reinsurer’s outstanding cat bond is due next month.