Bond issuance

Citic Pacific opens October bond fest

Investor and issuer appetites remain robust as Citic Pacific, Sunac and Lifestyle tap the dollar bond market.
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Oktoberfest in Munich. Similar to a bond fest, but with more beer
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<div style="text-align: left;"> Oktoberfest in Munich. Similar to a bond fest, but with more beer </div>

It was another frantic start to the week for debt syndicate desks, as three borrowers launched new deals yesterday. Citic Pacific and Sunac China Holdings injected vitality into a moribund high-yield sector, while Lifestyle International added to the constant flow of investment-grade issuance.

Citic Pacific returned to the bond market for the second time this year with another $750 million issue. The Hong Kong-based conglomerate, whose business operations span across iron and steel, infrastructure and property had already tapped investors for 5.5 year money in March after also raising $750 million in a 10-year deal in April 2011.

It is now becoming a regular borrower,...

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