Hang Fung Gold, the Hong Kong jewellery manufacturer and retailer, late last night priced the first high-yield public deal in Asia since Mobile 8's $100 million offering in August by Lehman Brothers (excluding an $88 million Davomas tap by the bank in early September), as Kexim also succeeded in pricing the second investment-grade deal in the wake of the subprime crisis. Secondary market performance will be closely watched to gauge the outlook for other high-yield deals in the pipeline.
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