Debt pipeline

Debt pipeline builds, but investors remain selective

For high-yield names, investors are demanding an attractive new-issue premium.
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Car dealers Baoxin Auto and China Zhengtong Auto are among a long list of names talking to bond investors
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<div style="text-align: left;"> Car dealers Baoxin Auto and China Zhengtong Auto are among a long list of names talking to bond investors </div>

The debt pipeline is building, with a few companies on the road last week and this week. These include a number of high-yield borrowers that are faced with a challenging environment as investors stay selective and demand an attractive new-issue premium.

The companies meeting investors this week include China Petrochemical Corp Sinopec, which has mandated Citi, HSBC, BOC International, Barclays, Goldman Sachs, J.P. Morgan, Mizuho and UBS to arrange investor meetings for a potential dollar bond sale. Sinopec is a state-owned petroleum and petrochemical group established in July 1998.

A two-team roadshow started meetings on Friday in Hong Kong and...

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