Sinopec bond

Sinopec underscores demand for long bonds

Asia's debt markets are selectively open as Sinopec and Vietinbank close bonds while China Zhengtong Auto and Baoxin Auto are said to have held off pricing last week.
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In a rare outcome, Sinopec’s 30-year bond priced 25bp inside the 10-years (ImagineChina)
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<div style="text-align: left;"> In a rare outcome, Sinopec’s 30-year bond priced 25bp inside the 10-years (ImagineChina) </div>

Despite volatile markets as the situation in Greece continues to rattle investors, two debt deals Sinopec’s massive $3 billion triple-tranche bond and Vietinbank’s smaller $250 million bond crossed the line early Friday morning.

Clearly Asia’s debt markets are open despite choppy conditions, though the question some may be asking is for how long “It’s definitely busy. Some deals may be taking more time to come together but at least the markets are open,” said one banker.

The fact that Sinopec was able to issue a $3 billion debut bond making it the largest dollar bond to be issued by a Chinese company and attract $19 billion worth...

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