Yum Brands serves up dim sum bond

US fast-food operator Yum Brands whets investors’ appetite with Rmb350 million dim sum bond, while Nissan Motors and Khazanah line up.

Yum Brands serves up dim sum bond
Dim sum is not on the menu at Yum Brands' biggest chain, KFC

While G3 bond issuance remains muted, Hong Kong’s dim sum bond market continues to attract a growing universe of borrowers. The latest addition is Yum Brands, a US-based fast-food company, which yesterday evening priced a Rmb350 million $55 million three-year bond, its debut foreign currency bond.

The small deal size reflected the issuer’s moderate funding requirements, with the target size said to be Rmb350 million. The bonds priced to yield 2.375%, inside initial price...

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