China Huiyuan Juice launches as Greek crisis overshadows PBoC rate cut

The People's Bank of China surprised the markets over the weekend by slashing rates for the fourth time since November 2014. But the Asian dollar bond market has been paralysed on June 29, due to the spectre of a Greek default and exit from the euro. The only issuer braving the market is China Huiyuan Juice Group which opened books for a three year deal in euros that was fully covered by anchor orders.