ASIA-PACIFIC

摘要

Car inc, China's largest car rental company, massively tightened final price guidance for a yield of 6.125% on a US$500m offering of five non-call three bonds. The issue priced at 98.944. The bond was initially announced at a yield in the 7% area, but anchor orders of US$300m saw momentum fire up early to hit US$1bn at the start of Asia's trading hours. Orders had reached in excess of US$5bn when Europe opened. A constructive credit backdrop in Asia on the day of marketing and a 25-cent private bank rebate also came in handy.