China's hot dollar bond streak continues

China Aoyuan Property, ICBC and Beijing State-Owned Assets Management sold dollar bonds as year-to-date mainland debt volumes rise to new heights.

China Aoyuan Property, Beijing State-Owned Assets Management, and Industrial and Commercial Bank of China sold dollar-denominated Reg S-only bonds on Monday as the supply of new bonds from mainland Chinese borrowers surged to record levels.

Rated B-B, China Aoyuan Property raised a $250 million three-year note at a yield of 11.25%, some way tighter than its initial price guidance area of 11.625%, according to a term sheet seen by FinanceAsia.

Government-owned investment management firm Beijing State-Owned Asset Management sold a dual-tranche note. Rated A3A-A, the borrower priced $300 million five-year and $700 million 10-year...

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