BNP Paribas

First transition-linked loan to obtain UK export guarantee but full KPIs not disclosed

South Korean steelmaker’s deal shows the potential of an ESG linked equity-linked market in Asia

KfW sounded the bell for the end of the summer holidays a week earlier than expected

Posco Co, one of the world’s largest steelmakers, has raised €1.07bn ($1.26bn) from South Korea’s first green convertible bond.

Becton, Dickinson and Co, the US medical technology company, has launched a tender offer on three dollar bonds, after announcing a multi-tranche outing in the euro market.

CDB Aviation, an Ireland-based subsidiary of China Development Bank Financial Leasing Co, has raised a $660m portfolio financing from banks.

Bank of China took its pivot away from Libor-linked bonds further this week by selling a dollar note tied to the secured overnight financing rate (Sofr) and a sterling-denominated deal that was the first Sonia-linked bond from a Chinese issuer. While BOC’s transaction was important, bankers say the new benchmarks are still slow to take off in Asia. Morgan Davis reports.

Beijing Hyundai Auto Finance Co sealed a Rmb4bn ($619m) revolving auto loan ABS this week, paving the way for its peers to tap China’s domestic market in the coming months.

It has been an earnings season of rebounds. UBS, the first of the European investment banks to report its results for the second quarter of the year, used the word “rebound” three times in its earnings report, which it published on July 23. Since then, BNP Paribas has pointed to an “established rebound” in its results while HSBC has reported a “rebound” in profits in the US and Europe.

Indian agribusiness company Adani Wilmar has filed draft documents with the securities regulator for a Rp45bn ($605.6m) IPO.

Beijing Hyundai Auto Finance Co has kicked off its onshore auto loan ABS issuance for the second half of the year, returning with yet another revolving deal under the Autopia China series.

Chia Tai Animal Husbandry Investment (Beijing) Co, an onshore China entity of Thailand’s Charoen Pokphand Group, is borrowing its first offshore loan directly.