A huge number of first-time Mainland-based issuers have accessed Asia’s debt capital markets in recent days ahead of China’s upcoming Golden Week holiday, which begins on October 1.
Just this week alone, Asia’s G3 dollar, euro and yen bond market has seen Jiangsu-based securities firm Huatai International Finance, power generator Zhejiang Provincial Energy, Hangzhou-based Geely Automobile and China’s largest semiconductor foundry SMIC just to name a few raise inaugural debt offerings.
“Most of the regular, big Chinese dollar bond issuers probably expected US Treasury yields to rise in the first half of the year, so a lot of them sped up their issuance plans early on in...
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