BAIC parks rare SOE bond with investors

Morgan Davis

March 11, 2021 09:15 am

Car 575 375 — (200509) -- SOUTHAMPTON, May 9, 2020 (Xinhua) -- Photo taken on May 8, 2020 shows new vehicles for sale stored at Southampton Dock in Southampton, Britain. New car registration in Britain plunged by 97.3 percent in April, hitting a record low in decades as the nation was in lockdown for the entire month to tackle the novel coronavirus, according to a report released Tuesday. With showrooms closed and car buyers housebound, just 4,321 new cars were registered in the month, merely above the 4,044 units sold in February 1946, said the Society of Motor Manufacturers and Traders (SMMT) in the report. (Photo by Tim Ireland/Xinhua) | unreguser/Xinhua News Agency/PA Images

Chinese car manufacturer BAIC Motor Corp sold a popular $350m bond on Wednesday. While the issuer offered a premium to investors in the primary market, the notes ended up trading tighter in secondary.

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Topics

China China Everbright Bank Co Corporate Bonds Asia Greater China Bank of Communications Northeast Asia Asia Pacific Emerging Markets DBS High grade and crossover bonds

MD

Morgan Davis

Deputy editor GlobalCapital Asia