MI Energy and SCB beat volatile bond markets

Despite a bout of market volatility, MI Energy and Siam Commercial Bank both close $400 million bond offers.

MI Energy and SCB beat volatile bond markets

China’s MI Energy and Thailand’s Siam Commercial Bank priced bonds last Friday amid difficult market conditions. Elsewhere, Chaoda Modern Agriculture pulled its benchmark-sized deal and Beijing Enterprise’s new issue widened 12bp as oil prices dropped and commodity markets got the jitters.

But debut high-yield borrower MI Energy pushed its deal through to raise $400 million, part of which will be used to fund its $170 million acquisition of Emir Oil, a company that owns oil-and-gas...

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