‘Power of tech’ evident in Sunny’s aftermarket rally

By Addison Gong
18 Jan 2018

Sunny Optical Technology (Group) Company’s $600m bond debut tightened 15bp in the secondary market on its first day of trading, a clear sign of the rampant demand for technology credits. But despite the eye-catching tightening, even rival bankers thought the pricing was spot-on. Addison Gong reports.

The company — which supplies optical components to manufacturers of mobile phones, auto, consumer electronics and optical instruments — made its first foray into the international bond market on Tuesday, selling a $600m 3.75% five year bond at 150bp over US Treasuries. That was 35bp inside initial guidance ...

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