Dollars and dim sum for Greater China trio

Hong Kong Telecom, Huai'an Development and Chongqing Grain Group take advantage of stabilising international bond markets.

Hong Kong Telecom, controlled by billionaire Richard Li Tzar-kai, returned to the international bond markets on Thursday, with a $750 million ten-year deal.

The Reg S transaction comes just over a year after the Hong Kong-listed group sold a $500 million 10-year note in March 2015.

Then it garnered $4 billion in demand from more than 270 accounts. This time around, the Baa2BBB rated company attracted a peak order book of $3 billion and final order book of $2.65 billion.

Markets remain in overall risk-off mode although sales desks reported 2bp to 4bp of tightening on Thursday following the Federal Reserve’s dovish statement....

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