Tingyi whets investors' appetite with $500 million debut bond

Tingyi Holding marked a first for Asia’s food and beverage sector on Wednesday night when it priced a $500 million debut dollar bond. It is also one of the few Taiwanese-owned companies to tap the dollar market the last one being Nan Ya Plastics in 2005.

Tingyi is best known for the Master Kong instant noodle brand, which launched in 1992 and is now sold in around 75,000 retail outlets in China. The company was founded by Taiwanese businessman Wei Ing-Chou, who is chairman and chief executive, and is listed in Hong Kong. Its business, which also includes making pear juice and milk tea, is based in China and has...