Chinese issuers stampede G3 bond market

Chinese issuers descend on force ahead of almost week-long public holidays across Asia.
Bull in a China shop
Bull in a China shop

The Asian G3 bond pipeline almost emptied in one day on Thursday when five Chinese issuers disgorged $2.2 billion worth of new paper onto the market.

Counterbalancing the large number of issuers were the relatively small sizes of the transactions, which should stand the secondary market in good stead. Bankers said the quintet chose to issue on the same day because they were conscious of how many public holidays there are across Asia next week.

Singapore and Hong Kong top and tail the week, while Korea is off Wednesday, Thursday and Friday celebrating the Chuseok harvest festival.

One syndicate banker also commented, Issuers have...

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