China climbs to top of Asian debt tree as upgrade, spaceshot power demand

The People's Republic of China established itself as one of the world's most sought-after borrowers this week when it launched highly aggressive $1bn and Eu400m bonds and achieved the lowest ever spreads by a non-Japanese Asian sovereign.

  • 24 Oct 2003

The deal was A2/BBB rated China's first international issue since 2001, and while the Finance Ministry has indicated it wants to become a more frequent international borrower, it has no pressing need for funds.

That rarity, combined with a keen bid from domestic investors, brought the pricing in to ...

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All International Bonds

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4 Bank of America Merrill Lynch 49,197.71 178 5.94%
5 Deutsche Bank 44,635.32 162 5.39%

Bookrunners of All Syndicated Loans EMEA

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4 Commerzbank Group 2,532.05 5 6.02%
5 BNP Paribas 1,798.71 8 4.28%

Bookrunners of all EMEA ECM Issuance

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3 Morgan Stanley 606.80 4 7.05%
4 Bank of America Merrill Lynch 509.34 3 5.92%
5 SG Corporate & Investment Banking 431.66 3 5.01%