HK renminbi investors ignore turmoil for first Japanese deal

Auto-lender Orix Corp priced a Rmb400m ($60.8m) three year bond on Tuesday, the first Hong Kong renminbi issue from a Japanese company. The deal generated more than Rmb2.3bn of orders and investors had few questions about how the company might be affected by the earthquake.

  • 17 Mar 2011

ANZ, BNP Paribas, Boom Securities, Mizuho Securities and Standard Chartered priced the deal to yield 2%, at the tight of final guidance set between 2%-2.10%. They had approached investors at the end of last week with price whispers of the low-to-mid 2%, releasing official guidance on Monday.

Investors were ...

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5 UniCredit 15,628.90 72 5.35%

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5 Credit Suisse 3,757.05 40 5.48%

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5 Citi 12,928.46 108 6.61%

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1 HSBC 28,041.31 115 6.16%
2 BNP Paribas 26,572.93 113 5.84%
3 Barclays 25,736.30 90 5.65%
4 JPMorgan 25,259.22 83 5.55%
5 Citi 24,204.97 95 5.32%