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GC Asia
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China South City pays hefty yield for $175m bond
A significant widening of China South City Holdings’ dollar bonds issued in January forced the company to offer a juicier yield for its return to the international market this week.
08.15 AM -
Bond investors should prepare for more complexity on sustainability KPIs
Europe’s syndicated loan market is demanding more of borrowers seeking sustainability-linked financing. Recent history shows the bond market lags the loan market on sustainability-linked financing innovation, suggesting investors would do well to pay attention to what is happening in the lending market.
02 Mar 2021 -
Gimv lines up debut sustainable bond as pipeline fills
Fixed income investors will have a chance to pick up unrated sustainable corporate bonds this week, as Belgian private equity firm Gimv has mandated banks.
02 Mar 2021 -
E.On and Toyota get weaving with new green frameworks
Two companies have brought out green and sustainable bond frameworks this week that take the product in new directions — EU Taxonomy compliance and introducing a completely new word to the sustainable finance lexicon: “woven”.
02 Mar 2021 -
Suez shakes off Veolia noise to print zero coupon bond
Suez, the French water and waste services group, sold €750m of zero coupon bonds on Tuesday, despite being in the midst of fighting off an €11.3bn hostile takeover bid from domestic rival Veolia.
02 Mar 2021 -
AusNet rarity secures almost eight times euro demand
AusNet Services, the Australian power networks company, got a rapturous response from investors for its rare euro hybrid capital bond issue on Tuesday, as they are eager to buy subordinated debt, even though riskier assets sold off last week.
02 Mar 2021 -
PMM: Dollar return pushes SSA subscription levels lower
A return to dollar funding by SSA borrowers capitalising on higher yields last week dragged the average subscription ratio lower.
02 Mar 2021 -
UST volatility is a wake-up call for Asia’s bond market
A recent bout of volatility in US Treasury rates has slowed down primary bond flow in Asia and forced brave borrowers to pay up for their deals. While the turbulence has kept issuers at bay, it will offer a much-needed reset for the region’s bond market.
02 Mar 2021 -
Dr Peng extends dollar bond maturity again
Dr Peng Telecom & Media Group Co has extended the maturity of its dollar bond until December 2022.
02 Mar 2021 -
Red-chip trio plot Panda bond returns
Three Panda bond issuers are gearing up to tap the interbank market to raise at least Rmb5bn ($773.5m) in total.
02 Mar 2021 -
CSRC boosts attraction of exchange bonds with new rules
The China Securities Regulatory Commission (CSRC) has firmed up new rules for so-called ‘company bonds’, a move that is set to provide greater flexibility to corporate issuers tapping the exchange bond market.
02 Mar 2021 -
Coca-Cola pops cap on week’s euro issuance
Coca-Cola, the US beverage company, kicked the issuance week off in the European corporate market, with the borrower landing flat to fair value on two out of three tranches.
01 Mar 2021 -
Rare borrowers come to euros as AusNet plans hybrid
AusNet Services Holdings, the Australian energy company, was one of a handful of high grade corporate euro mandates announced on Monday morning, as syndicate bankers said that the volatility in the rates market means issuers will need to accept paying wider spreads.
01 Mar 2021 -
Citi’s Fraser makes net zero pledge on first day as CEO
Jane Fraser, CEO of Citigroup, said on Monday — her first day in the post — that the bank was committing itself to net zero financed greenhouse gas emissions by 2050. It joins major banks such as Barclays, HSBC and Morgan Stanley in having made such a promise.
01 Mar 2021 -
Workspace plans green sterling deal for bond market debut
Workspace Group, the UK office space company, is marketing a green sterling bond as its debut in the public fixed income market, marking the second time a UK company has made this “very rare” choice in less than a year.
01 Mar 2021
