HY scarcity drives demand to Yingde $250m

Gas web_230px
By Virginia Furness
28 Aug 2014

Yingde Gases Investment took advantage of strong technical demand for Asian high yield to price a deal capped at $250m on August 21. Scarcity value — both in terms of size and sector — also buoyed investor support for the bond, which was 10 times subscribed.

Yingde met investors in the week of August 11 after announcing its financial results and bankers said there was sufficient interest for the borrower to push ahead with a transaction a week later. The timing worked to the borrower’s advantage, they said.

“The technicals favour those borrowers who ...

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