Welcome! Citic opens samurais to Chinese

Chinese issuers had been absent for the samurai bond market for 16 years. But after Citic Group broke the mold, they now have a pricing benchmark.

Chinese investment conglomerate Citic Group raised 100 billion $965.5 million from the Samurai bond market this week, becoming the first Chinese issuer to tap the market in 16 years.

The company split the deal between a 28.2 billion three note paying 0.48%, a 46.8 billion five year tranche yielding 0.67%, a 20 billion seven year coming at 0.85% and a 5 billion 10 year tranche paying 1.05%.

The deal represented a rare new issuer segment for Japan’s famously cautious investor base, and heralded Citic’s return after two decades away.

Perhaps more importantly, the success of the multi-tranche deal has given bankers hope the bond...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222