Tianjin Rail expands China's offshore muni debt

A new municipal-linked borrower makes its offshore debut with a popular deal.

Tianjin Rail expands China's offshore muni debt

Tianjin Rail Transit made its debut in the international bond markets on Wednesday, defying a tepid market environment to raise $500m from a dual-tranche deal.

Bankers hope the Reg S deal will encourage more of China’s municipal government-backed issuers into the offshore market.

The loss making company made its entrance on an ostensibly difficult day. Stock markets across Asia fell throughout Wednesday, and the iTraxx Asian investment grade index was trading slightly...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: tianjin rail | bonds | china | hsbc | dbs | deutsche bank

Print Edition

FinanceAsia Print Edition