ASIA-PACIFIC

摘要

The first Chinese US dollar bond offering for 2018 has drawn robust demand and traded up in the secondary market. Chinese conglomerate CITIC on Thursday priced US$750m of US dollar senior unsecured notes in two tranches. The offering drew final orders of over USS3.2bn, or about 4.3 times the issue size. "Demand from investors was very strong, which allowed the issuer to price the bonds tighter than fair value and without a new-issue premium," said a banker on the deal.