China Orient sells $1b dual-tranche bond

China Orient raises huge dollar-denominated offering, the third Chinese bad debt management firm to raise international funds this year.

China Orient sells $1b dual-tranche bond
China Orient, one of China's biggest bad debt banks.

China Orient Asset Management sold a $1 billion dual-tranche bond on Tuesday, shoring up funds for working capital and general corporate funding purposes as investors familiarity towards the issuer type improves.

The group's latest offering can be split into a $600 million five-year bond and $400 million 10-year note, according to a term sheet seen by FinanceAsia. The tranches have a coupon of 3.75% and 5% respectively.

The Reg-S note, issued...

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