Chinese duo raise $780m in euro debt

Chinese state-owned firms Beijing Enterprises and Yuexiu Transport successfully raised €700 million by selling euro-denominated bonds to yield-starved eurozone investors.
Beijing Enterprises is in the solid waste treatment business
Beijing Enterprises is in the solid waste treatment business

State-owned Beijing Enterprises Holdings and Yuexiu Transport collectively sold 700 million $780 million in euro-denominated bonds late on Wednesday, meeting with strong investor demand as eurozone interest rates continued to hover around historic lows.

Beijing Enterprises a Hong Kong-listed Chinese company engaged in gas transmission and distribution, brewing beer, and waste water treatment  raised a maiden 500 million five-year bond, according to a term sheet seen by FinanceAsia. Rated A3BBB, the Reg S-only offering priced at mid-swaps plus 120 basis points, which is 15bp tighter than its initial price guidance area.

Yuexiu Transport Infrastructure, which principally operates and...

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