Cinda, China Re compete for bond market attention

China Cinda garnered an impressive order book of $19 billion for a four-part deal, while China Re received $2.3 billion of orders for its debut.

Cinda, China Re compete for bond market attention

Two of China’s largest financial companies chose the same day to launch their US dollar bond offerings. On Thursday, investors were offered a $3 billion four-tranche deal from China Cinda Asset Management and an $800 million debut issue from China Reinsurance Group, the country’s largest reinsurer.

The two deals were launched amid a relatively optimistic tone in the Asia credit market, despite US central bank officials suggesting an interest rate hike was imminent. The chance...

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