Sunshine Life brightens up Asian bond market

The Beijing-based insurance group raises $1.5 billion from a triple-tranche deal after attracting a strong order book.

Sunshine Life brightens up Asian bond market

Beijing-based Sunshine Life Insurance Corp launched an extremely well received $1.5 billion bond offering on Wednesday, ending a recent drought among Chinese credits tapping the offshore credit market.

Pent up demand helped spur the order book, which topped $6.5 billion before dropping back slightly to $6 billion after price guidance was revised.

Bankers said there was a fairly even split between a three-, five- and 10-year tranche.

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