HONG KONG, Sept 30 (IFR) - Deutsche Bank's woes weighed on
risk sentiment across Asia, with spreads widening across
investment-grade and high-yield credits.
The Asian investment grade CDS index was 5bp wider at
120bp/121bp, after the German lender's CDS jumped 21bp on Friday
and the stock hit record lows.
China Citic Bank International became the latest Asian bank
to see new US dollar Additional Tier 1 bonds drop in the
The US$500m perpetual non-call five priced at par to yield
4.25%, but was quoted at a cash price of 99.217/99.563,
according to Tradeweb.
Sinopec's new issues continued to widen, with the US$600m
2026s spotted 5bp wider at 143bp/142bp, while CK Hutchison
Holdings' 10-year notes were also quoted 3bp wider on the day at
132bp/129bp, said a Singapore-based trader.
Chinese property developers were also hit in the risk-off
run. Country Garden's US$650m 4.75% 7NC4s were a third of a
point lower at 97.81/98.03, while HNA Group's new US$200m
five-year notes were trading below re-offer at 99.26/99.62, said
Indonesia's US$1.25bn 5.95% 2046s were almost half a point
lower at 126.66/127.02.
(Reporting by Frances Yoon; Editing by Vincent Baby)