CMB Leasing revives 10yr bonds for China FIG

By Alice Huang
06 Aug 2020

CMB Financial Leasing Co returned with five year and 10 year dual-tranche bonds on Wednesday, selling the first decade bond from a Chinese FIG credit in more than a month as costs for longer-dated notes fall.

Despite a flurry of dollar bonds from Chinese financial institutions since late June, there has been no 10 year supply from the sector.

A syndicate banker on CMB Leasing’s $1.2bn deal explained that funding costs for 10 year tenors have been higher compared to last year, so ...

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