ASIA-PACIFIC

摘要

Bl capital holdings booked orders of US$380m for its US$200m offering of three-year bonds at 4.5% after marketing them in the Treasuries plus 370bp area. The bonds priced at 99.696 for a yield of 4.514%. Investment was predominantly from Asia at 93% of the 46-account order book. Europe made up 7%. Private banks were the main investors at 66%, with banks next at 30%, and then funds at 3% and insurance companies at 1%. China United SME Guarantee is the guarantor of the bonds and parent company HNA Capital is providing a keepwell. Barclays, Bank of China, China Everbright Securities and Guotaijunan International were joint global coordinators, as well as lead managers and bookrunners. The Reg S senior unsecured bonds will list in Singapore under English law. They are expected to score ratings of Baa3/BBB-.