Launching a trade at the tail end of a busy year, when most of the market is off to long boozy lunches or year-end festivities, may not seem like an obvious choice on timing, but Chinese construction machinery company Zoomlion did just that this week, pricing its $600 million 10-year bond last night.
“We decided to come now as January will be a busy month, and who knows what will happen in the US with the fiscal cliff,” said one source. “Zoomlion was the only deal in the market and did not have any competing supply.”
Zoomlion made its debut in the dollar bond market with a...
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