Cross was most recently chief financial officer at the Asian Infrastructure Investment Bank in Beijing.

The funds will be mobilised to support initiatives such as the Asean Power Grid, in collaboration with four Malaysian banks.

Bauhinia 3 has a portfolio of 33 project and infrastructure loans across 28 projects, 12 countries and nine sub-sectors, with a value of $450.5m. HKMC issued Class D notes at non-investment grade -- a first in Asia.

After over six years with the infrastructure investment bank, Cross will take up a senior leadership role at another institution outside of Asia.

Andrew Cross, CFO at the Beijing-based infrastructure bank, shared his views on private capital mobilisation, high interest rates, sustainabilty bonds, and the attraction of Hong Kong as a fundraising destination; the AIIB is looking to deploy $75bn by 2030.

The South Asian nation has agreed a more flexible exchange rate to help unlock $1.3bn of funds.

The lead managers for the bond were Bank of China (Hong Kong), HSBC and Standard Chartered; the three-year bond is listed on the Luxembourg Stock Exchange and will settle on the HKMA's Central Moneymarkets Unit.

The World Bank, the Asian Development Bank, the Islamic Development Bank and others, are providing support packages worth billions of dollars, to help with financial sector reforms.

The Asian Infrastructure Investment Bank is an anchor investor in SPV Bauhinia 2, which contains a $107m sustainability tranche; meanwhile, the Hong Kong Mortgage Corporation will have a new CEO in December.

The note, which raised $300m, is listed on the Luxembourg Stock Exchange, with clearing of the bonds possible on Hong Kong Monetary Authority’s Central Moneymarkets Unit and SIX.