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...

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