SDIC's "investor-friendly" dollar bond debut

The national investment company sells a dual-tranche deal, drawing $11 billion of demand at peak.

State Development Investment Corporation SDIC, a national policy investment company established in 1995 by China’s State Council, raised $1 billion from its international bond debut on Tuesday, attracting an array of investors looking for stable returns.

The quasi-sovereign issuer tapped the offshore market with five- and 10-year bonds after US Treasury yields bounced back on Tuesday as investor confidence returned and the SP 500 Index neared a record closing high. Although trading in Asian G3 bond markets was more mixed in the wake of Sunday’s reassuring French presidential vote, with some profit taking in investment-grade corporates, solid trading during European and US hours and the still-big investor...

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