State Grid goes big in euros

摘要

Chinese state-owned utility state cridcorp took €1bn (US$1.13bn) out of the euro bond market last week as bankers in Europe forecast even more to come from foreign issuers looking for currency diversity. The issue, which was priced on Monday, is the largest euro-denominated bond for a Chinese corporate issuer, according to the leads. State Grid's debut euro offering was split into a €700m 1.5% 2022 portion and a €300m 2.45% 2027 piece.