Far East Horizon sells Rmb1.25bn offshore bond

Far East Horizon, the financial leasing unit of Sinochem Group, proved there is strong demand available even for some unrated credits in the dim sum bond market, when it sold a Rmb1.25bn ($192.5m) three year bond last week.

  • 30 May 2011
The unrated issue — which followed a roadshow earlier this month — priced at par with a 3.90% coupon, at the tight end of guidance of 3.9%-4%. The lead managers had approached investors with whispers of the 4% area on Wednesday, before coming out with official guidance in ...

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5 Goldman Sachs 72,819.63 356 3.96%

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5 Bank of America Merrill Lynch 18,365.61 60 5.84%

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Bookrunners of Dollar Denominated HY Bonds

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4 Bank of America Merrill Lynch 16,031.34 140 7.12%
5 Morgan Stanley 14,465.14 100 6.42%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 21,308.46 122 5.89%
2 Barclays 19,922.30 79 5.51%
3 JPMorgan 19,249.64 88 5.32%
4 SG Corporate & Investment Banking 18,623.31 86 5.15%
5 Citi 18,190.86 90 5.03%