Citi raises record $40b sustainable financing for APAC clients in 2021 YTD

This was thanks to Alibaba’s $5b offerings and a $2.5 bond issuance by SK hynix.

Citi has raised over $40b in sustainable financing for APAC clients in 2021 as far, a sixfold increase versus the same period in 2020.

Amongst highlight transactions include Alibaba group’s $5b four-part offering in February, which included a 20-year sustainable tranche—the company’s debut sustainable capital markets transaction, according to Citi.

The bank also assisted semiconductor company SK hynix in its $2.5b bond issuance in January.

Citi also led a US$3bn sukuk for the Republic of Indonesia in June,  which included a 30-year green tranche—the longest-ever green offering in Islamic format, the bank said.

Green financing has risen over the past decade, Citi noted. Ten years ago, assets under management of the ESG investing market was more or less $5b, according to market estimates. Now the global ESG AUM is estimated between $30t - $45t.