State-owned Beijing Enterprises raised $1 billion from bond investors early Friday morning, with strong support from Asian buyers.
The company raised the money in two tranches $600 million at a 10-year maturity and $400 million at 30 years. The bonds were issued by Mega Advance Investments, a BVI subsidiary, and were marketed to professional investors in the US, but Asian demand dominated both tranches, and particularly the 30-year portion where two-thirds of buyers came from within the region.
Previous 30-year bonds from similar Chinese state-owned borrowers have attracted much better demand in the US CNOOC sold 64% of its January offer in the US, while...
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