The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
China Securitization Awards

Best securitization deal 2021

China Three Gorges Renewables (Group) Co 2021-1 Green Asset-backed Notes (Carbon Neutrality)

Many ABS deals in China caught Asiamoney’s attention this year, whether from new issuers and asset classes or because they came with structural innovations.

But what Asiamoney found the most impressive was the collective effort from the onshore ABS market – as well as the broader Chinese bond market – to support the transition to a green and low-carbon economy. Beijing set a target in September 2020 to reach peak carbon emissions by 2030 and become carbon neutral by 2060.

While corporate issuers have continued to sell green transactions in the exchange ABS market, the interbank credit ABS market has also welcomed many names. These include debut green auto loan ABS deals from BYD Auto Finance Co and Shanghai Automotive Group Finance Co, and Industrial and Commercial Bank of China’s green credit card ABS that was backed by new energy vehicles.

But front and centre of the green renaissance was China Three Gorges Renewables (Group) Co’s Rmb1.115 billion ($175 million) asset-backed notes (ABN). The order book for the green deal was close to 1.8

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree