Bank of China Hong Kong raises $1.6 billion in week of record issuance

Despite volatile markets in Europe and the US, nine bond issuers came to market in Asia last week, including Noble, Chandra Asri, New World, KDB and Star Energy. But Bank of Baroda postponed the launch of its planned deal.

Bank of China Hong Kong raises $1.6 billion in week of record issuance
The Bank of China building in Hong Kong (left)

Asian stocks suffered heavily across the board on Thursday and Friday last week due to concerns that the ongoing sovereign debt problems in Europe could upset the global economic recovery and conditions in the debt markets were volatile throughout the week. In spite of this, Asian issuers managed to price nine deals last week, raising a record $5.4 billion.

Early in the week, Industrial Bank of Korea tapped the market for $350 million and Rizal Commercial...

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