China Orient ditches 10yr on strong demand for five

By Narae Kim
12 Dec 2014

China Orient Asset Management opened books for a tap to a five and 10 year dual trancher late last week. But it decided not to price the longer bond as it was content with the strong reception for the five year.

Sole global co-ordinator Bank of China International announced on December 11 the Reg S tap of the 3.75% 2019s at 255bp-260bp over Treasuries and the 5% 2024s at 305bp-310bp over Treasuries. The outstanding five year and 10 year were trading at 228bp and 275bp, respectively. 

But after nine ...

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