Chexim and SPDB bank dollar deals

Two days of improving markets provide a window for the Shanghai Pudong Development Bank and China Export-Import Bank to jump into the international bond markets.
Investors return to work
Investors return to work

Asian bond markets re-opened after the summer break on Wednesday with a debut issue for the Shanghai Pudong Development Bank (SPDB), plus new deals for the Export-Import Bank of China (Chexim) and Korea Development Bank  

All three issuers took advantage of two days when market sentiment improved considerably and Chinese investors returned to the market following a four-day break  

The positive tone was demonstrated by the performance of the iTraxx Asia ex-Japan index, which finally started to reverse direction It tightened by almost 10bp over two days to 133/136 at New York's open on Wednesday, although it still has some considerable way to go until it hits the 104/105 level it...

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