China Aoyuan Property, Beijing State-Owned Assets Management, and Industrial and Commercial Bank of China sold dollar-denominated Reg S-only bonds on Monday as the supply of new bonds from mainland Chinese borrowers surged to record levels.
Rated B-B, China Aoyuan Property raised a $250 million three-year note at a yield of 11.25%, some way tighter than its initial price guidance area of 11.625%, according to a term sheet seen by FinanceAsia.
Government-owned investment management firm Beijing State-Owned Asset Management sold a dual-tranche note. Rated A3A-A, the borrower priced $300 million five-year and $700 million 10-year...
¬ Haymarket Media Limited. All rights reserved.
