Bond market gets slow start as Trump, onshore China default raise caution

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By Morgan Davis
16 Nov 2020

Asia’s primary bond market started on a slow note on Monday, surprising debt bankers who were gearing up for strong deal flow. But recent announcements from the US over China investment, coupled with rising US Treasury yields and a default in the Mainland bond market, have given issuers some pause.

Just one company opened bookbuilding for a dollar deal on Monday morning. Jingrui Holdings, which carries a B2/B rating, announced at 2.25 year bond with initial price guidance in the 14.625% area. The syndicate team is made up of nine Chinese leads and one international bank, with the ...

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