Two Chinese companies from different ends of the credit spectrum jumped into benign primary markets on Tuesday to complete dollar-denominated offerings ahead of key policy meetings by the US Federal Reserve and Bank of Japan on what’s being dubbed Super Wednesday.
From the high yield sector, Country Garden Holdings, China's third-largest homebuilder by revenue, achieved its lowest ever headline cost of funding with $650 million seven-year non-call four bond.
Meanwhile, Shanghai-listed Dongxing Securities issued a debut dollar bond using a guarantee structure that enabled it to achieve an investment grade rating.
Syndicate bankers said regional investors remain constructive towards new supply since they expect...
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