Powerlong and Korea Hydro sell a combined $700 million of bonds

Powerlong issues yet another high-yield China property bond, while Korea Hydro delivers a stable Korean credit that attracts demand for 10 times the $500 million deal size.

Asia’s debt capital markets returned to form last week with another three deals raising a combined $1.7 billion on late Thursday nightearly Friday morning, following a $1 billion bond from DBS earlier in the week. Powerlong Real Estate Holdings challenged the waning investor enthusiasm for China's busy property sector with a $200 million high-yield offering, while Korea Hydro and Nuclear Power Company brought yet another $500 million quasi-sovereign from Korea that attracted large demand.

Also pricing in this narrow window was the Republic of the Philippines' $1 billion peso-denominated global bond see separate story on our website today.

Powerlong

The first among these latest three issues was Powerlong, which priced a...

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