Agricultural Bank of China

Chinese bond investors welcomed the issuance of new ‘carbon neutrality bonds’ this week. Six companies raised a combined Rmb6.4bn ($994m) in the format, supporting Beijing’s goal of net zero carbon dioxide emissions by 2060.

CMB Financial Leasing Co had to navigate hurdles around structure, timing and pricing for its dual-tranche bond outing this week, managing to bag $800m from a $2.7bn order book.

State-owned electricity generator China Huaneng Group Co priced a dual-tranche $1bn bond on Tuesday, overcoming complications emerging from rising US Treasury rates and geopolitical concerns.

Agricultural Bank of China and Shanghai Pudong Development Bank Co competed for investor orders on Monday. ABC, the bigger of the two and offering a green bond to the market, got more attention, while SPDB faced an uphill battle.

Issuers from Greater China flooded the market with dollar deals on Tuesday, capitalising on strong appetite from investors ready to put money to work in the new year.

Two Chinese borrowers, Beijing Construction Engineering Group and CPI Ronghe Financial Leasing, have closed syndication for their loans.

CPI Ronghe Financial Leasing, a subsidiary of Chinese state-owned State Power Investment Corp, has increased its loan size to $250m.

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

China Gezhouba Group Co raised $200m from a subordinated perpetual bond on Wednesday.

Chinese property developer Country Garden has closed a $1.5bn-equivalent dual currency loan, attracting seven participants during syndication.

China Development Bank (CDB) raised nearly $3bn from dollar and euro bonds on Monday, appealing to investors due to its rarity in the debt market.

Agricultural Bank of China and Bank of China’s investment arm tapped the bond market on Thursday, joining a host of other issuers that also sought fresh funding.