Dim sum gets shot in the arm: BOC Avi, BMW issue
Don’t write an obituary for the dim sum bond market just yet. BOC Aviation and BMW showed there are still signs of life this week, pricing a pair of three year bonds that added variety to a market that clearly needs it.
BOC Aviation, rated A- by both S&P and Fitch, is a regular in the offshore debt market and has sold numerous CNH bonds before, of which a Rmb1.5bn 4.2% four year from 2014 and a Rmb1bn 4.5% 2018 from 2013 will mature next November.
The issuer’s return to the
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