CDB bond stumbles along the Silk Road

Policy bank executes messy deal minus two of its syndicate banks.

CDB bond stumbles along the Silk Road

China Development Bank CDB returned to the offshore markets on Tuesday with a $1.56 billion multi-currency deal that provided a textbook example of how not to access the international bond markets.

The state-owned policy bank is regarded as China's de-facto sovereign borrower and, therefore, the country's chief emissary for flagging its growing presence on the world stage. The original intent behind the Aa3AA- rated credit's new dollar and euro bond offering was also...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...