China Orient Asset Management benefited from pent-up investor demand for yield on Tuesday as it tapped international bond markets for the first time in almost two years with an upsized $650 million five-year issue.
The group was flooded with more than $6.5 billion of orders, according to two bankers familiar with the transaction, underlining just how hungry investors are for income-paying investments even as sleepy market conditions prevail and US interest rate hike worries nag.
The deal was increased from an initial target of $500 million, the two bankers added.
Strong investor interest in China Orient's dollar bond sale comes ahead of a widely...
¬ Haymarket Media Limited. All rights reserved.
