ICBC Leasing bond: soaring demand, falling premium

Chinese leasing company attracts a large order book despite pricing through secondary market levels.

ICBC Leasing bond: soaring demand, falling premium
Clear skies for the Asian bond markets?

ICBC Leasing returned to the international bond markets on Tuesday with a second dollar deal of the year that demonstrated how investors appear ready to pile into deals even if they offer no value relative to secondary market levels. 

The A2AA rated credit priced a $1.5 billion three-tranche offering during the New York day after amassing a final order book of $6 billion. This was split roughly $1 billion for a three-year...

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