Two Chinese state-owned enterprises entered the international bond markets on Wednesday hoping to take advantage of a constructive trading day for Asian credits.
A $1.67 billion dual-currency offering from China Development Bank CDB and 400 million $446 million maiden issue from Weetabix owner Bright Food both priced at tight levels, but may benefit from market momentum ahead of a speech by Federal Reserve Governor Janet Yellen on Friday signalling a possible interest rate hike in June.
CDB back along the Silk Road
China’s Aa3AA- sovereign rated policy bank returned to the dollar- and euro-denominated markets for the second time...
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