Vote of confidence in perps as CSCI bags $500m

China stock market random 150 x 230
By Morgan Davis
27 Nov 2018

China State Construction International Holdings’ (CSCI) $500m perpetual bond sale on Monday proved that investors still have an appetite for the structure — if the terms are right.

The perp market in Asia has had little activity this year amid a rising rate environment and market volatility. But State Power Investment Corp managed to raise $500m from a senior perp less than two weeks ago. When it first marketed its notes to investors on a roadshow, ...

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