Huarong AM coughs up for $1.2bn in choppy markets

By Rashmi Kumar
25 Sep 2020

China Huarong Asset Management offered investors a new issue premium to get its $1.2bn three-tranche bond past the finish line, a move that resulted in a three times covered book with decent support from real money accounts.

It wasn’t an easy decision for the issuer to hit the market on Thursday. Equity markets in Asia and the US have been volatile all of this week, while bond investors have also been risk averse, faced with rising uncertainty over the spread of Covid-19 and fears about ...

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