Bocom Leasing's latest bond hits turbulence

The aircraft unit of Bank of Communications inches closer to ABS issuance, but investors say they are baffled by the structure of its latest deal.

Bocom Financial Leasing returned to the international bond markets on Tuesday, as the aircraft unit of Bank of Communications seeks to use securitisation as an innovative tool to fuel its business expansion.

However, its latest deal did not appear to go particularly well.

There was no change from indicative terms to final pricing and unusually, the leads did not release demand and distribution figures a fairly sure sign both were thin on the ground.

Two investors FinanceAsia spoke to said they struggled to understand the deal structure.  

The deal also hit a market, which has mixed views about Treasuries...

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