Want Want, Huarong bonds draw whopping demand

The two companies took vastly different approaches to the bond market. But they both managed to generate huge demand.

Two Chinese investment-grade companies turned to the offshore US dollar bond market on Thursday, with snacks titan Want Want selling a $500 million bond and state-owned asset manager China Huarong raising $3.4 billion from a multi-tranche deal.

Both companies received strong demand from investors. Hong Kong-listed Want Want captured more than $2 billion of orders at the end of its marketing process, while Huarong collectively garnered more than $13.7 billion of demand for its five-tranche sale.

“There is little evidence that mainland investors are losing their appetite for Chinese debt,” a Singapore-based investor told FinanceAsia. “Non-bank financial companies such as...

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