China Insurance International Holdings CIIH is believed to be preparing to launch its first dollar denominated bond issue. Observers say the Hong Kong listed company has mandated its ratings advisor UBS for the transaction, which should surface in the next month or so.
The deal is expected to be relatively small, with the market anticipating an issue size of $100 million to $200 million. However, the transaction is interesting on two counts.
Firstly, there is the issue of its nationality. Although the company's biggest revenue base comes from Hong Kong, where it is the second largest re-insurer, it is the China growth story that investors are most likely to focus on....
