Chinese SOE Issues Record-Breaking USD1.85 Billion of Unrated Dollar Bonds
Liao Shumin
DATE:  Jan 30 2018
/ SOURCE:  Yicai
Chinese SOE Issues Record-Breaking USD1.85 Billion of Unrated Dollar Bonds   Chinese SOE Issues Record-Breaking USD1.85 Billion of Unrated Dollar Bonds

(Yicai Global) Jan. 30 -- Tsinghua Unigroup Co. said that it issued unrated senior bonds worth USD1.85 billion abroad on Jan. 25, setting a record for the biggest overseas issuance of unrated dollar bonds by a Chinese state-owned enterprise.

Through its wholly-owned subsidiary, Tsinghua Unic Ltd., Tsinghua Unigroup issued USD900 million of three-year bonds, USD750 million of five-year bonds and USD200 million of 10-year ones.

The issuance was oversubscribed with more than 300 investors, including several internationally renowned investment institutions, seeking about USD9 billion of bonds. Some 88 percent of the subscribers were Asian investors, and backers from Europe, Africa and the Middle East accounted for 12 percent.

This is the second time Tsinghua Unigroup has publicly issued bonds overseas. Its first go was in 2015 and attracted less funding.

Under the leadership of Tsinghua Unigroup President Zhang Yadong, the company conducted a three-day global transaction road show from Jan. 22 to Jan. 24, meeting more than 100 bond investors in Hong Kong, Singapore and London.

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Keywords:   Dollar Bond,Tsinghua Unigroup