CICC is a standard setter when it comes to its fixed income business in Hong Kong: it is not only the go-to for primary market deals, but also plays a key role in facilitating cross-border capital flows for Chinese issuers and investors.
In the past year, it has worked on several landmark outings, including the People’s Government of Hainan’s Rmb4 billion ($561.3 million) dim sum bond – the first biodiversity-themed bond from a local Chinese government – and the People’s Government of Shenzhen Municipality’s Rmb5 billion debut offshore social bond.
CICC also helmed a Rmb1 billion sustainability-linked bond (SLB) for New Hope Group, the first SLB issued overseas by a privately owned mainland Chinese company.
The bank’s relationship with international names, including multilateral development banks, is worth a mention. CICC was a global coordinator on a Rmb500 million offshore bond for China Education Group – a deal guaranteed by the Credit Guarantee & Investment Facility (a fund under the Asian Development Bank). It was also the sole dealer for a bond by the Asian infrastructure Investment Bank and participated in the New Development Bank’s euro commercial paper programme.
CICC