sinochem

Two Chinese state-owned companies have opened books for dim sum bonds despite currency market volatility.

Strong US investor interest enabled Tencent to raise $2.5 billion from its dual-tranche bond, the largest in Asia ex-Japan from the tech space.

Sinochem becomes one of the first few major state-owned enterprises to issue a dollar perpetual.

The club-style deal raises $276 million and is the first block trade to be completed in Asia this year.

The deal could be the sixth-biggest IPO in Shanghai, where turbulent equity markets have not dampened supply.

Sinochem (Hong Kong) Group yesterday priced a Rmb3.5 billion three-year offshore renminbi bond at a yield of 1.8%.

Evergrande, Hopson, PT Sulfindo Adiusaha, SMC Global Power and Sinochem rush to the market with bond issues.

Government-owned Sinochem becomes the second Chinese firm to pursue Australian farm chemicals company Nufarm.

A subsidiary of China's Sinochem is to acquire a controlling interest in the rubber plantation company for $198 million.