Grand China Air debuts $300m bond

Thanks to reverse inquiries from investors, the airline company is out with an unrated maiden US dollar bond just five months after its Singapore dollar debut.

Grand China Air debuts $300m bond

Grand China Air Hong Kong sold a $300 million two year bond that is callable in year one late on Tuesday, its debut in the dollar space as investors look to hold the issuer’s latest high-yielding unrated bond.

The Reg S-only offering priced at 5.5%, which is 25 basis points tighter than its initial price guidance area of 5.75%, according to a term sheet seen by FinanceAsia.

“The issuer...

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