Everbright Securities makes its bond debut

Chinese brokerage ignores weakening Asian credit markets to bring a debut credit-enhanced bond.

Everbright Securities makes its bond debut

China's Everbright Securities made its maiden voyage into increasingly choppy credit markets on Thursday, raising $450 million from a three-year, credit-enhanced deal.

Bankers said robust demand from Chinese commercial banks enabled the Baa3-rated securities group to counter the prevailingly negative market tone with an order book of $1.9 billion from 87 accounts.

The deal came on a bad day for the Asian credit markets, with the Asia ex-Japan iTraxx index widening four...

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