CCB Asia prices first euro offering

China Construction Bank Asia raises a €500 million bond, the first euro-denominated offering from a Chinese bank as basis swaps improve.

CCB Asia prices first euro offering

China Construction Bank Asia sold a 500 million $568 million bond on Wednesday night, reopening the door for Asian issuers to consider the euro market as basis swaps improve.

The Reg S-only offering the first euro-denominated bond from a Chinese financial institution priced at mid-swaps plus 120bp, which is 15bp tighter than the initial price guidance area, according to a term sheet seen by FinanceAsia.

The improvement in the cross-currency...

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