China Development Bank

The landmark renminbi bond came at a premium

Local government prices three dim sum bonds 15bp inside the yield curve of the Chinese policy bank

Two-thirds of the final orders come from the 16 banks working on the bond

China Development Bank has returned to the offshore renminbi market, raising Rmb2.5bn ($391m) from a three year bond.

Two Chinese policy banks have issued dollar-denominated bonds onshore after a long hiatus, as the renminbi exchange rate continues to strengthen and foreign currency deposits in China hit a record high.

China Development Bank has priced an internationally certified Rmb20bn ($3.1bn) carbon neutrality-themed green bond well inside its secondary curve, giving the nascent asset class a further boost.

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.

China Development Bank returned to the offshore renminbi bond (CNH) market after six years with the largest print in the currency for 2020.

Minera Las Bambas (MLB), a subsidiary of Hong Kong-listed MMG, has raised an $800m loan from four Chinese banks.

Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week. As issuers rushed to sell deals before China’s Golden Week holiday and the US presidential election in November, many were left with transactions that fell short of expectations or slumped in the secondary market. Morgan Davis reports.

China Development Bank has raised Rmb10bn ($1.43bn) from a domestic green bond that won international certification. The policy bank made the rare move to sell the deal in different primary markets simultaneously, a further step in the closer union between China’s two big onshore debt markets. Addison Gong and Rebecca Feng report.

Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.

The Airport Authority Hong Kong has boosted the size of its loan to HK$35bn ($4.5bn), after receiving a strong response during syndication.

Turkey’s Garanti Bank has raised a $592.4m-equivalent ESG-linked syndicated loan — the first of its kind signed by a bank. The deal, despite being launched at the beginning of the coronavirus crisis, went successfully, according to bankers, following a string of refinancings by other Turkish banks.

A mix of Chinese policy banks, hospital builders and pharmaceuticals companies have put the domestic bond market to use to combat the coronavirus outbreak as the death toll nears 600. More mainland issuers are also readying deals as the country’s regulators introduce a faster registration process for such issuance, write Addison Gong and Rebecca Feng.

Chinese policy banks and corporations are planning to sell renminbi bonds onshore to battle the coronavirus outbreak, using the capital markets as a source of key funding during a challenging time for the financial industry.

The overwhelming supply of international bonds from Asia continued on Tuesday, as issuers dashed to raise dollars, and in one case, sterling. But not every borrower was able to cross the finish line.

Three Chinese banks have provided Jiangxi Copper Company with a $700m loan to support its acquisition of Canada’s First Quantum Minerals (FQM).

China Development Bank hired a dozen foreign banks for its latest green bond, raising Rmb10bn ($1.4bn) from a domestic market deal that attracted major offshore demand. Rebecca Feng reports.

Cofco International, a commodities trading unit of China’s agri-products company Cofco, has increased its sustainability-linked loan to $2.3bn after receiving commitments from 21 lenders.

Maybank completed its second Rmb2bn ($291.5m) Belt and Road Panda trade on Thursday, pricing both tranches at the bottom of the price range.

Maybank plans to return to the Chinese debt market on Wednesday with a Rmb2bn ($289m) Panda bond offering after a two-year hiatus. This time around, the Malaysian lender has roped in a policy bank as the trade’s lead underwriter.

China Development Bank Financial Leasing Co (CDBL) has raised $700m from the bond market, leaning on anchor orders to squeeze a tight final price.

Haitong International Securities has boosted an offshore borrowing to HK$16bn ($2bn) after receiving strong demand during the syndication.