A pair of Chinese rookies extended Asia's dollar-bond rush on Thursday, with state-owned China Southern Power Grid raising $1.5 billion from a dual-tranche offering and Shui On Group's property construction arm selling a $200 million three-year note.
Both deals were oversubscribed, with China Southern Power garnering more than $2.5 billion of orders and Socam Development receiving $550 million-worth of interest for its unrated deal.
Even so, there are hints that the region's red-hot primary bond market could be losing a little momentum after secondary market trading disappointed.
“Following the poor secondary performance of State Grid bonds, Southern Power bonds were mixed,...
¬ Haymarket Media Limited. All rights reserved.
