Top Section/Ad
Top Section/Ad
Most recent
◆ 12 year bond surprises bankers with strong demand ◆ Orders fall as pricing tightens ◆ Deal lands close to fair value
AT&T’s 19 year bond found buyers this week, but rate uncertainty and a flatter euro curve have dampened investor demand for duration
August forecast to be a strong month for corporate dollar supply
Stable backdrop, steady rates and strong demand give issuers reasons to move before the post-summer rush, bankers said
More articles/Ad
More articles/Ad
More articles
-
China Resources Land has priced a $350m tap of its 2019 bonds to take advantage of cheaper funding opportunities. The tap received good demand despite negative headwinds and a falling stock price caused by the corruption scandal engulfing the borrower’s parent company, China Resources. Bankers said that the news had no bearing whatsoever on the bonds. -
Sinochem saw strong demand for its sophomore CNH issue despite strong competition in the market. The Chinese state owned conglomerate’s investment grade rating proved an attractive feature for investors and the issuer was able to raise Rmb2.5bn ($406m) with its second deal in less than two weeks.
-
CNPC General Capital, a subsidiary of China National Petroleum Corporation, on Wednesday priced a dual tranche bond that included a three year floating rate note. While the vast levels of subscription seen by previous state-owned enterprises were not repeated, the issuer was able to get a significant saving over where a three year fixed rate note would have come. The five year priced just wide, however.
-
Power Construction Corporation of China (PowerChina) announced guidance on its debut CNH bond this morning as the dim sum markets continue to ramp up after a quieter period in April.
-
Rizhao Port HK has opened guidance on its debut offshore renminbi bond which is backed by a standby letter of credit (SBLC).
-
China Chengtong Development Group has issued the first ever dim sum bond to use an RMB-denominated standby letter of credit (SBLC). The three year deal priced on April 30 at 4% with a size of Rmb600m ($96m). Agricultural Bank of China (ABC) provided the SBLC via its Beijing branch.
