Two Chinese companies from either end of the credit spectrum jumped into the international bond markets on Thursday following a dovish policy statement from the US Federal Reserve and no new easing measures from the Bank of Japan BoJ.
China Development Bank CDB returned to the dollar market with a $1 billion three-year transaction three weeks after a $2.72 billion dual currency offering, while high-yield issuer Zhongrong came back with a $500 million deal almost one year after its international debut.
Both deals hit a market that is still in softening mode, with Asian investment grade credit spreads widening 3bp to 5bp...
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