China Development Bank
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Local government prices three dim sum bonds 15bp inside the yield curve of the Chinese policy bank -
Two-thirds of the final orders come from the 16 banks working on the bond
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China Development Bank has returned to the offshore renminbi market, raising Rmb2.5bn ($391m) from a three year bond.
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Two Chinese policy banks have issued dollar-denominated bonds onshore after a long hiatus, as the renminbi exchange rate continues to strengthen and foreign currency deposits in China hit a record high.
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China Development Bank has priced an internationally certified Rmb20bn ($3.1bn) carbon neutrality-themed green bond well inside its secondary curve, giving the nascent asset class a further boost.
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China Development Bank is planning to sell an up to Rmb20bn ($3.08bn) carbon neutrality themed green bond next week to support China’s goal of net zero carbon dioxide emissions by 2060. The deal is internationally certified and will be available to Bond Connect investors.
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China Development Bank returned to the offshore renminbi bond (CNH) market after six years with the largest print in the currency for 2020.
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Minera Las Bambas (MLB), a subsidiary of Hong Kong-listed MMG, has raised an $800m loan from four Chinese banks.
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Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week. As issuers rushed to sell deals before China’s Golden Week holiday and the US presidential election in November, many were left with transactions that fell short of expectations or slumped in the secondary market. Morgan Davis reports.
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China Development Bank has raised Rmb10bn ($1.43bn) from a domestic green bond that won international certification. The policy bank made the rare move to sell the deal in different primary markets simultaneously, a further step in the closer union between China’s two big onshore debt markets. Addison Gong and Rebecca Feng report.
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Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.
