bonds

The move to help address a number of funding issues, will benefit Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China.

Global investors, with the majority in Asia, participated in the deal which included five year, 10 year and 30 year senior bonds, and is the largest US dollar bond issuance in Hong Kong in the Reg S format; the funds will help drive infrastructure development.

The up to $121m bond is supported by BCA Sekuritas, BNI Sekuritas, Sucor Sekuritas and BRI; the miner is also eyeing a "transformative" acquisition to help sustainability efforts.

The Australian bond market has seen a record start to the year, with A$69bn being issued so far in 2025, with robust investor liquidity and tightened spreads.

The lead managers for the bond were Bank of China (Hong Kong), HSBC and Standard Chartered; the three-year bond is listed on the Luxembourg Stock Exchange and will settle on the HKMA's Central Moneymarkets Unit.

Slowing loans, M&A and ECM hit banks' fees last year. Technology, exports and bonds are bright spots, while Hong Kong is increasingly being seen as a place to raise foreign capital. PBOC's governor Pan Gongsheng wants a proactive policy approach.

The record issuance in US dollars, Hong Kong dollars and CNH, includes several 30-year tranches.

Refinancing needs, fewer defaults, falling interest rates, sustainable bonds, and support from banks, are all fueling demand.

The Asian Infrastructure Investment Bank is an anchor investor in SPV Bauhinia 2, which contains a $107m sustainability tranche; meanwhile, the Hong Kong Mortgage Corporation will have a new CEO in December.