Two unrated Hong Kong companies executed international dollar bonds on Monday taking advantage of a market, which still shows no signs of any fatigue digesting new issues.
Short-haul carrier Hong Kong Airlines priced a $250 million re-opening of its existing January 2019 bond, while Hong Kong-listed property developer CSI Properties also raised $250 million from a five-year deal.
Bankers said market conditions have significantly improved over the past few weeks as Brexit fears recede. In addition, disappointing second quarter US GDP figures have further dampened expectations the Federal Reserve will raise interest rates.
Sentiment remains strong in the Asian market, one syndicate banker stated....