News

Chengdu real estate firm lists bonds in Frankfurt

Euro_notesA state-owned real estate developer in the city of Chengdu has listed €500 million ($622 million) of Eurobonds on the China Europe International Exchange (CEINEX) in Frankfurt. The issuance from Chengdu Xingcheng Investment Group is the first Eurobond from Southwest China, according to a statement from CEINEX, and also the first Eurobond on CEINEX from a non-financial enterprise. “This Eurobond is the largest direct financing of Chengdu Xincheng Investment Group, and sets the record for lowest financing costs in the open market for the group,” said Ren Zhineng, chairman of Chengdu Xingcheng Investment Group. “It not only reduces the cost of capital, but also is a signal to attract global capital for the further development of Chengdu.” CEINEX is a marketplace for offshore renminbi and China-focused investment instruments. It uses the Deutsche Börse infrastructure. Chengdu Xincheng Investment Group plans to use the proceeds of its bonds on an urban ecological project to turn Chengdu into “a beautiful and liveable park-like habitat for its citizens and visitors”, according to the CEINEX statement. ©2018 funds global asia

Executive Interviews

Executive interview: PGIM CEO on where the ESG flowers should bloom

Sep 27, 2021

David Hunt, president and chief executive of PGIM, tells Romil Patel about leading a top 10 global asset manager in times where “empowering and encouraging the kind of investment decisions as...

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...

Roundtables

Roundtable: Singapore comes of age as an Asian ESG hub

Dec 01, 2021

Strong ESG credentials strengthen the case for Singapore as a leader in Asia of the post-Covid recovery. Our panel discusses the risks and opportunities.

Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.