SIPG trade a blowout with $10.7bn book

Shanghai Dusk_230px
By Addison Gong, Morgan Davis
12 Jun 2019

An order book that was more than 15 times covered allowed first-time issuer Shanghai International Port (Group) Co to not only beat its price target in the primary market, but also see its $700m bonds perform well in secondary.

A1/A+ rated SIPG is the dominant operator of the port of Shanghai, the world’s largest container port by throughput volume. The Shanghai State-owned Assets Supervision and Administration Commission and China Merchants Port Holdings are the top two shareholders in the company.

Its strong credentials aside, the general ...

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