Demand blows a gasket for Xinao bond

Chinese gas distributor increases its debutant bond deal on huge order book.

Hong Kong listed piped-gas distributor Xinao Gas made its debut in the high yield market on Friday July 29 with an increased $200 million seven-year bond via sole lead Deutsche Bank. The Ba1BB rated deal was priced at par with a semi-annual coupon of 7.375% to yield at 332bp over US Treasuries.

Fees were 2.75%.

The order book is said to have topped the $1 billion level by the time the...

To continue reading, please login or register for free

Click for more on: demand | blows | gasket | xinao | bond

Print Edition

FinanceAsia Print Edition

CONFERENCES