Fosun upsizes bond after roaring demand

The Hong Kong-listed company became the first Asian borrower to tap the dollar bond market in the wake of a US interest rate hike. It got a warm welcome from investors

Fosun International, founded by Chinese billionaire Guo Guangchang, returned to the dollar bond market in style this week.

The company raised $800 million after becoming the first Asian issuer to test the waters after the Federal Reserve's 25bp interest rate hike on Wednesday, a widely anticipated move. But Fosun was also riding on the back of its own good news.

Moody's, the ratings agency, changed its outlook on Fosun from stable to positive in December, citing the group’s plan to sell two major assets a 50% stake in a property project in Shanghai and a 100% stake in a Ironshore, a US-based insurer purchased by Fosun...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222