HONG KONG Jan 9 Swedish lender Svenska
Handelsbanken AB completed the sale of a 400 million
yuan ($64.3 million) three-year dim sum bond, in which the order
book reached 2.5 billion yuan, according to a term sheet seen by
The bond, with initial price guidance around the mid-3
percent range, was finally priced at 3 percent due to positive
feedback from investors.
Fund and asset managers accounted for 35 percent of the
deal, followed by the public sector at 20 percent, banks at 19
percent, corporates at 14 percent, private banks at 8 percent
and others at 4 percent.
Hong Kong investors comprised 54 percent of the transaction,
while the rest of Asia took 37 percent and Europe contributed 9
percent, the term sheet showed.
The senior unsecured bond is expected to be rated Aa3/AA-
(Moody's/S&P), the same as the issuer's rating.
Svenska Handelsbanken AB sold a 170 million yuan two-year
dim sum bond priced at 1.4 percent in 2011.
HSBC is the sole bookrunner of the
The dim sum bond market has been very active since the New
Year's holiday, with HSBC Bank (China) Co Ltd and China
Guangdong Nuclear Power Holding tapping the market, seeing
strong demand from investors.
($1 = 6.2241 Chinese yuan)
(Reporting by Michelle Chen; Editing by Edmund Klamann)