China Development Bank

China Development Bank Financial Leasing Co (CDB Leasing) sealed an opportunistic $100m tap on Monday. But like other borrowers that came to the market on the same day, paying a new issue premium was inevitable because of a weak backdrop and heavy expected supply.

The Province of British Columbia (BC) completed its second Panda bond on Wednesday, raising Rmb1bn ($150.9m) from a three year deal. The issuer went ahead with the deal despite rising yields in China – pushing the coupon to the top half of the guidance range.

China Development Bank Corp priced its maiden international green bond on Thursday, raising close to $1.7bn from a dual-currency transaction that will fund Belt and Road related projects. The deal offered diversification not only to the issuer but also to investors.

Bookrunners on China Development Bank Corp’s debut international green bond have released price guidance for a dual-tranche transaction featuring dollars and euros.

China Development Bank Corp (CDB) is gearing up for talks with fixed income investors for its inaugural offshore green bond, mandating firms for a dual-currency transaction.

China Development Bank Financial Leasing Co began marketing a dual-tranche dollar bond on Tuesday morning local time, as a number of issuers attempt to get ahead of China’s 19th National Congress of the Communist Party meeting taking place on Wednesday.

CDB Leasing is on the road pitching a dollar bond deal which it wants to price as early as Monday, just ahead of the 19th National Congress of the Communist Party of China.

Bank of China Hong Kong has sold its second Panda bond, raising a staggering Rmb9bn ($1.37bn) from a one year note. The transaction was the largest Panda sold in the interbank bond market, and caught the attention of foreign investors, which made 50% of all bids.

State-owned Türk Eximbank has signed a $200m three year loan facility with the China Development Bank.

After a dire first half of the year, the Panda bonds market had a busy week with five issuers either pricing their deals or revealing their intention to come to the market. While red chip real estate names still make up most of the pipeline, sovereign and local government issuers are starting to get a piece of the action, with Hungary and the Province of British Columbia (BC) leading the way.

China Development Bank Financial Leasing Co (CDBL) has named banks to run its proposed dollar transaction, with investor meetings beginning this week.

China Development Bank jumped on the floating rate note (FRN) bandwagon this week, bagging $3bn equivalent and adding its name to a list of issuers that recently sold bonds in the format. With demand rather than supply driving deals, and with interest rate hikes looming, the stage is nicely set for more FRN trades, writes Addison Gong.