Chinese SOEs make debut dollar splash

Beijing_230
By Morgan Davis
11 Oct 2018

Four Chinese state-owned enterprises (SOEs) were out in the dollar bond market on Wednesday, looking to seal trades ahead of a China sovereign bond sale on Thursday. But the volatility in the market presented a short-lived opportunity for debt sales and the borrowers’ new notes all slumped in the secondary market.

Chinese issuers are pressed to find open issuance windows as the end of the year draws near. The country was shuttered the first week of October for Golden Week celebrations, and the market reopened on Monday to volatility and trade war-related turmoil. But bankers still expect a steady ...

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