Banks
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China Development Bank is planning to sell an up to Rmb20bn ($3.08bn) carbon neutrality themed green bond next week to support China’s goal of net zero carbon dioxide emissions by 2060. The deal is internationally certified and will be available to Bond Connect investors. -
Shaanxi Financial Asset Management Co sold its first dollar bond on Thursday to raise $200m, but the difficult market backdrop meant even the new issue premium of 10bp-15bp was not enough to entice many investors.
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Chinese internet giant Baidu has met with a rapid flood of early demand for its Hong Kong secondary offering, which is expected to raise around $3bn.
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Hundreds of things happened this week in sustainable finance. That’s normal now — it’s become a fizzing, global market which is ever-present. Anyone who predicted, say, four years ago that sustainable finance would take over the whole capital market probably feels the outcome has exceeded their expectations.
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Any fears about the resilience of the US corporate bond market were set aside on Thursday when Verizon Communications amassed a $115bn orderbook and printed one of the biggest deals of the year.
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European banks will exercise extreme caution in dollars after an ill-fated senior deal from Swedbank this week. It could signal the end of a long run of ultra-easy borrowing conditions in US credit markets, with severe volatility stemming from fears of rising interest rates. Tyler Davies reports.
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