News at-a-glance: market wrap (Mar 3)

ADB sells $2 billion bond; Asian companies catching up in ‘net zero’ race; Chinese TMT IPOs surge; BNY Mellon names new Japan chief; and more.

MARKET TRENDS Asian Development Bank sells $2 billion bond

The Asian Development Bank ADB has priced a $2 billion 10-year global bond, with proceeds to contribute to its ordinary capital resources.

The deal marked ADB’s second successful outing in the US dollar market this year. “The constructive result provides us with more resources to support our developing members in Asia and the Pacific, especially those most affected by the pandemic,” said treasurer Pierre Van Peteghem.

The transaction was lead-managed by JP Morgan, Nomura, RBC and TD Securities. A syndicate group was also formed consisting of ANZ, Credit Agricole CIB, ING,...

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