Unrated Huawei sells aggressively priced bonds

Despite being priced inside fair value, Huawei's new five-year and 10-year bonds traded up in the secondary market as investors continued to pile in.

A renewed taste for risk among Asia's G3 bond investors helped Chinese technology company Huawei Investment Holdings secure strong demand for an aggressively priced $1.5 billion dual-tranche deal on Tuesday night.

The employee-owned telecoms equipment and smartphone maker garnered some $10 billion of demand before the release of final pricing, beating even the impressive $5.5 billion order book built up by Chinese property group Road King for its high-yield issue on Monday.

The strong interest came in the wake of hawkish comments by US Federal Reserve chair Janet Yellen, who said improving economic conditions made a rate hike more likely at the Fed's next...

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