Rate cuts spur China dollar bond rush

Chinese phone equipment maker Huawei, property developer Agile and clean energy firm China General Nuclear Power collectively raise $2.1 billion in bond finance.

Rate cuts spur China dollar bond rush

Three Chinese borrowers Huawei, Agile, and China General Nuclear Power priced Reg S-only offerings late in the Asian day on Tuesday, taking advantage of the improved investor mood following China’s interest rate cuts at the weekend.

Huawei sold a $1 billion 10-year bond, raising funds for general corporate purposes. The Chinese phone equipment maker priced its maiden unrated note at US Treasuries plus 195 basis points, which is 25bp tighter than its initial price guidance...

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