DBS

Bank of China took yet another step this week to build China’s sustainability market by selling Asia’s first blue bond to benefit ocean-related projects — opening the door for similar deals from the region. Morgan Davis reports.

Bank of China printed Asia’s first blue bond on Monday, with plans to use the roughly $940m raised to benefit ocean-related sustainability projects.

Singapore’s agribusiness company Wilmar International as well as Hong Kong conglomerate Swire Pacific have both raised sustainability-linked loans.

Bank of China rolled out a dual-currency blue bond on Monday, making it the first borrower in Asia to market a marine sustainability transaction.

Chinese local government financing vehicle (LGFV) Guangzhou Metro Group Co priced a tight dual-tranche deal on Thursday, including a 10 year tranche for the first time, in a bid to take advantage of falling yields.

BOC Aviation paid investors a small premium on Tuesday to seal a $750m decade bond.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

Singapore-listed Frasers Centrepoint Trust is looking to raise S$1.39bn ($1.02bn) by selling new units equal to over half its existing stock.

Singapore’s DBS has become the latest foreign bank to receive approval for a majority-owned securities joint venture (JV) in China, as the country continues to open up its financial markets.

Property company HongKong Land has converted a HK$1bn ($129m) revolving credit facility received from DBS this February into a sustainability-linked loan.

A $600m loan to support Baring Private Equity Asia’s take-private of Indian software firm Hexaware Technologies has been launched into general syndication, with three banks joining at the top level.

Singapore’s agribusiness company Wilmar International has raised a S$200m ($146m) bilateral loan from DBS using the country’s new interest rate benchmark.