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Automotive companies revive short-dated euro floater flow
Top 25 shareholders and new investors participate in previously delayed offering, but some shares left over after subscriptions closed
Moody's and S&P upgraded their ratings for the company within the last 12 months
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Chinese car manufacturer BAIC Motor Corp sold a popular $350m bond on Wednesday. While the issuer offered a premium to investors in the primary market, the notes ended up trading tighter in secondary. -
Woori Card Co, a South Korean financial services firm, targeted investors in Taiwan on Wednesday for a $200m social bond.
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As Colombia works on the initial stages of developing a social bond framework, the sovereign has identified gender and immigration as two of its key pillars.
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Chilean cable company VTR brought life to the Latin America primary bond market on Wednesday, but the company was unable to tighten its new senior-secured eight-year deal beyond guidance as markets are remaining functional but cautious in the face of rising US Treasury yields, said bankers.
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HSBC has agreed to tighten its policies on climate transition and coal funding, in response to a shareholder motion calling on it to phase out fossil fuel financing. The move underlines the power investors have to accelerate change on environmental and social issues using shareholder votes, and could raise the bar for other banks.
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While European banks have been ducking the covered bond market in favour of central bank liquidity, issuance from the asset class’s newer markets has also been light, but for different reasons. Attention is now on South Korea and Japan, which are seen as the most promising sources of new issuance, according to a senior S&P ratings official.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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