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Secondary market selling of private bonds may be wreaking havoc with the primary market for public debt but the trades were still the right thing to do
Sovereign's $3bn deal tightens well as Asian demand returns
The sovereign's public and private bonds of similar maturities are trading over 25bp apart

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  • LG Chem sealed its equity-linked debut in style this week, offering investors a rare dual-currency trade that added some much-needed diversity to their Asian portfolios. The $608m deal was also only the second undocumented sale of convertible bonds in the region, writes John Loh.
  • Korea Resources Corp (KoRes) navigated a number of hurdles to complete its $500m bond on Tuesday to imminently refinance maturing notes. The company found plenty of support for its annual issuance, but only after it offered a juicy premium to investors.
  • Bank of China has priced bonds denominated in US dollars, euros and Australian dollars worth $3bn-equivalent, with another two tranches in New Zealand dollars set to be priced on Wednesday. The deal, sold under different branches of the bank, reflects the relentless bid for floating rate notes (FRNs).
  • China SCE Property Holdings and Powerlong Real Estate Holdings paid up to complete their dollar bonds on Tuesday, but the new issue premiums were widely expected by bankers.
  • Chinese conglomerate Sinochem Group has hired a seven-strong syndicate team to run the Hong Kong IPO of its oil assets, according to a banker on the mandate.
  • Chinese white goods maker Qingdao Haier said on Tuesday that it plans to float up to 400m D-shares on the Frankfurt-based China Europe International Exchange (Ceinex).