Axis Bank became the fourth and largest green bond issuer from the Indian financial sector on Monday, raising $500 million from a debut deal.
The five-year Reg S144a transaction came into a market preparing itself for a deluge of bonds from issuers of all hues over the coming two weeks. Overshadowing them all is a prospective jumbo transaction from China's Three Gorges Corporation, which could raise more than $3 billion, according to investors.
It is also a market that is still in recovery mode after hawkish minutes from the US Federal Reserve last week pushed Treasuries almost 10bp higher overnight.
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