China borrowers fuel up on bonds

China Travel Services, Tewoo and Hongqiao launch combined $1.7 billion of dollar bonds, shoring up funds as market volatility subsides.

China borrowers fuel up on bonds

Asia’s debt capital market continues to thrive, with Monday night seeing a combined total of $1.7 billion worth of dollar-denominated bonds solely from Chinese issuers.

Mainland travel agency China Travel Services sold a debut $1 billion dual-tranche offering, while state-owned trading company Tewoo raised an inaugural $400 million three-year bond backed by an ICBC Tianjin branch standby letter of credit.

Added to that list, Chinese aluminium producer Hongqiao priced a $300 million...

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