GC
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Indian dual recourse flies as covered bond hopes build
Dual recourse structures have become increasingly popular in India after last year’s debut from Kogta Finance. And with the sanctity of bankruptcy remoteness successfully tested in the courts, sentiment towards such structures has improved further. This could help pave the way for a national champion bank to test appetite for Indian covered bonds, which would offer the country's lenders a source of long-term diversified funding that they can't get from deposits.
22 Oct 2020 -
UOB goes tight in Aussie dollars
United Overseas Bank achieved the tightest spread for a five year floating rate bank issue in Australian dollars in over 10 years this week, issuing A$750m ($532.0m) to prove that there is still demand at decade-low levels.
22 Oct 2020 -
Singapore slings old 4% covered bond limit
The Monetary Authority of Singapore (MAS) has substantially increased its covered bond issuance limit which had stood at 4% of assets on an issuer’s balance sheet. This, along with very strong market conditions, should help to induce the country’s borrowers, which have not printed in euros for more than two years, to make an appearance before the year is out.
21 Oct 2020 -
China Everbright debuts in dollars
China Everbright, the Hong Kong asset manager, sold its maiden dollar bond on Tuesday.
21 Oct 2020 -
Peak Re bags subordinated bond
Hong Kong-based Peak Reinsurance Co rolled out a subordinated perpetual bond on Tuesday, netting $250m from the deal.
21 Oct 2020 -
Asian bank pair take Aussie trip
A pair of Asian banks tapped the Australian dollar bond market for a combined A$1.25bn ($880m) on Tuesday. A number of banks have visited the Aussie market in recent weeks to great success, and more are set to follow.
20 Oct 2020 -
KDB uses Covid label to raise $1bn
Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.
20 Oct 2020 -
CDB entices investors with dollars, euros
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.
20 Oct 2020 -
China Minsheng floats $500m bond
China Minsheng Banking Corp sold a floating rate bond through its Hong Kong branch last Friday, nabbing $500m from the club-style transaction.
19 Oct 2020 -
HSBC financed climate laggards weeks before net zero target
HSBC provided $1.8bn of financing to high carbon companies including Kepco, which is developing new coal plants, in just five deals in the past four months, as it prepared to announce its “net zero ambition” on October 9, an NGO has alleged.
16 Oct 2020
