Citic Pacific opens October bond fest

It was another frantic start to the week for debt syndicate desks, as three borrowers launched new deals yesterday. Citic Pacific and Sunac China Holdings injected vitality into a moribund high-yield sector, while Lifestyle International added to the constant flow of investment-grade issuance.

Citic Pacific returned to the bond market for the second time this year with another $750 million issue. The Hong Kong-based conglomerate, whose business operations span across iron and steel, infrastructure and property had already tapped investors for 5.5 year money in March after also raising $750 million in a 10-year deal in April 2011.

It is now becoming a regular borrower,...