Chinese investment conglomerate Citic Group raised 100 billion $965.5 million from the Samurai bond market this week, becoming the first Chinese issuer to tap the market in 16 years.
The company split the deal between a 28.2 billion three note paying 0.48%, a 46.8 billion five year tranche yielding 0.67%, a 20 billion seven year coming at 0.85% and a 5 billion 10 year tranche paying 1.05%.
The deal represented a rare new issuer segment for Japan’s famously cautious investor base, and heralded Citic’s return after two decades away.
Perhaps more importantly, the success of the multi-tranche deal has given bankers hope the bond...
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