ASIA-PACIFIC

摘要

State-backed technology company tsinghua unigroup has sold US$1.85bn of unrated three-part high-yield bonds for capital expenditure and M&A in its core chip and cloud businesses. The large issue size did not deter investors and the leading Chinese semiconductor manufacturer drew final orders of more than US$6.15bn. "Given the large issue size, the issuer had, at the beginning, shown its willingness to pay some premium," said a banker on the issue.