The Export-Import Bank of China (China Exim) increased its month-old 2014 dollar bond issue to $1bn yesterday by tapping the capital market for another $250m.
The new deal was priced to yield 93 basis points above the 10-year Treasury, the same as the original issue.
When Exim issued the bond at the end of July, it was its first issue in the dollar bond market in five years. HSBC managed yesterday's tap.
The bank is rated Triple B plus, three levels above speculative grade, by Standard & Poor's, the same as its sole owner, the Republic of China.
Source: Financial Times
