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)