Chinese credits blitz bond market

Busy day for Chinese investment grade issuers with deals from China Huarong Asset Management and China State Construction Engineering Corp.

The Asian primary bond markets sprang back to life on Thursday with a clutch of dollar deals from Chinese investment credits, including a $1.8 billion offering from China Huarong Asset Management and a $500 million issue by China State Construction Engineering Corp CSCEC.

The new issue pipeline had been building up a head of steam all week after borrowers were absent from the market on Monday due to US non farm payroll-induced volatility, followed by two days of public holidays across Singapore and Malaysia on Tuesday, then the US on Wednesday. 

When they came on Thursday, the two deals for Huarong and CSCEC both launched...

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