Road King bond in top gear, Fenghui stays in first

Contrasting demand for issues by China's Road King and Fenghui Leasing as credit markets show signs of softening.

Road King bond in top gear, Fenghui stays in first

Competing international bond issues by two Chinese high-yield issuers attracted markedly different levels of demand on Wednesday as credit markets showed signs of softening. 

B1BB- rated Road King surpassed all expectations by building up an enormous $6.5 billion peak order book for its first dollar deal since 2012, while B2B rated Fenghui Leasing managed to attract $500 million in peak demand for a debut deal. 

The contrast...

To continue reading, please login or register for free

Click for more on: bonds | china | investment grade | high yield | boci | dbs | jp morgan | hsbc

Print Edition

FinanceAsia Print Edition

CONFERENCES