ASIA-PACIFIC

摘要

BOC AVIATION has printed a US$750m three-year bond issue that was more than three times covered, after waiting for a favourable window and offering a premium to investors. The Chinese aircraft leasing firm on Thursday priced the 1.625% 2024s at Treasuries plus 140bp, a 25bp tightening from initial 165bp area guidance. Final pricing was wider than Nomura's trading desk fair value estimate of a spread of 130bp and research firm CreditSights' fair value estimate of 122.5bp, mainly referencing BOC Aviation's curve.