Macau casino Studio City returned to international bond markets in style on Thursday, selling the largest Asian high yield corporate bond this year.
The company sold a $350 million three-year bond and an $850 million five year non-call two year bond. Between them, these two tranches got around $2.5 billion of demand.
The deal ticked a number of boxes for those bankers looking for a win as the year ends with a whimper. For one thing, bankers extolled the geographical split of the demand. Asian notes were a bare majority for the callable bond and took just 35% of the three-year deal.