China Property Crash Is Hurting Niche Pocket of ESG Finance

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China,Property Developers,Securitized Debt

(Bloomberg) -- China’s property downturn is weighing on yet another corner of financial markets: ESG-labeled securitized debt.Most Read from BloombergTrump...

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Special purpose entities of developers China Jinmao Holdings Group Ltd. and Shui On Land Ltd., along with electric vehicle maker BYD Co. were among China’s top three issuers in 2023 though have either slowed down or are absent this year, according to the BI data. “Demand is still very strong from the investor side, but there’s no doubt that coming up with enough of the green-eligible mortgages, whether it’s on the residential or commercial side, has been a challenge,” said Claire Coustar, Deutsche Bank AG’s global head of ESG for fixed-income and currencies.

Shengshi Rongdi Auto Loan ABS and Chang Ying Auto Loan ABS raised a combined $2.2 billion. The originator of the first is a unit of BYD, while a Great Wall Motor Co. entity is behind the latter.Sure, Enbridge stock used to be a dividend giant, but I fear that's no longer the case. Yet this stock has a far better outlook. The post A Dividend Giant I’d Buy Over Enbridge Stock Right Now appeared first on The Motley Fool Canada.

 

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