clp power

The telecommunications arm of conglomerate Reliance is out with a debut dollar bond, India’s first international high-yield corporate debt issuance in nearly two months.

CLP Power, Korea Land and Housing, and State Grid raised $4.5 billion on Monday, taking advantage of an issuance window before the May 1 holiday.

KDB prices $750 million worth of bonds inside its secondary curve with a book heavily laden with US investors. Elsewhere, CLP Power and Sunac China meet investors.

The 10-year deal is issued from the Hong Kong power producer's $2.5 billion medium-term note programme and prices aggressively thanks to stable market conditions.