January 11, 2018 / 2:25 AM / 13 days ago

IL&FS Transportation Networks sells 900 mln yuan dim sum bond at 8 pct

HONG KONG, Jan 11 (Reuters) - Indian infrastructure firm IL&FS Transportation Networks has completed its sale of a 900 million yuan ($138.23 million) three-year dim sum bond priced at 8 percent, marking the first high-yield dim sum deal in more than a year.

Order books for the bond amounted to more than 2 billion yuan from 52 accounts. Asian investors accounted for 97 percent and European investors took up 3 percent.

Fund and asset managers accounted for 92 percent, followed by commercial banks at 5 percent and private banks at 3 percent.

The offshore yuan bond market lost momentum over the past few years as the yuan’s increased volatility and depreciation expectation dampened investors’ appetite to hold yuan assets. ($1 = 6.5110 Chinese yuan) (Reporting by Michelle Chen; Editing by Sam Holmes)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below