Beijing SOE overcomes Huarong volatility to price $700m bond

Beijing skyline_adobe_575px_20Oct20
By Morgan Davis
29 Apr 2021

Beijing Enterprises Holdings battled weakened sentiment around Chinese state-owned enterprises to sell a $700m dual tranche transaction on Wednesday. The company was able to price a successful deal, but only after overcoming recent fears about Chinese issuers. Morgan Davis reports.

The Asian bond market has been plagued by China Huarong Asset Management’s problems all month. The state-owned bad debt manager’s bonds have swung up and down in recent weeks, with the senior notes hovering around a cash price in the 70s to low 80s on Thursday.

Investors were ...

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