State Grid, Saka Energi jump into fundraising

The Chinese utility giant and Indonesian oil and gas producer receive warm welcome from investors, getting a $10 billion and a $4.5 billion of demand at peak, respectively.

State Grid, Saka Energi jump into fundraising

Two Asian borrowers from opposite ends of the credit spectrum successfully completed fundraising exercises this week state-controlled State Grid of China Corporation with a $5 billion multi-tranche deal and Indonesian oil and gas producer Saka Energi with a $625 million seven-year debut bond.

The success of both sales represents a vote of confidence in Asian G3 bond markets as issuers seek to lock in low borrowing costs, with traders now pricing in...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES