Asia’s debt capital market is sputtering to a close before Christmas holidays with a few borrowers reopening the issuance of their outstanding bonds, pushing volumes to an all-time high.
On Thursday evening, China Orient priced a $500 million reopening of its existing 3.75% dollar bond offering expiring in September 2019, the second drawdown of the asset management firm’s $2 billion medium-term note programme set up in September.
The five-year offering executed within nine hours was announced at initial price guidance at Treasuries plus 255bp to 260bp, according to a term sheet seen by FinanceAsia. Due to significant demand the bond was priced at the...
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