CDB and Zhongrong bonds react to hesitant Fed

Two Chinese companies from either end of the credit spectrum jump into the market after the Fed's dovish policy statement.
The US Federal Reserve
The US Federal Reserve

Two Chinese companies from either end of the credit spectrum jumped into the international bond markets on Thursday following a dovish policy statement from the US Federal Reserve and no new easing measures from the Bank of Japan BoJ. 

China Development Bank CDB returned to the dollar market with a $1 billion three-year transaction three weeks after a $2.72 billion dual currency offering, while high-yield issuer Zhongrong came back with a $500 million deal almost one year after its international debut.

Both deals hit a market that is still in softening mode, with Asian investment grade credit spreads widening 3bp to 5bp...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222