Spencer Anderson is a senior report at IFR on the people and markets desk. Since joining in 2011 he has written extensively on banking regulation, tax issues and capital markets. He was previously with the Financial Times.
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China Aircraft Leasing has added to Asia’s high-yield momentum with an offering of bonds that met with a strong response from investors.
China’s banks have seen their capital adequacy ratios take the largest hit in more than three years, raising the possibility of a revival in the country’s dormant subordinated bond market.
ICBC Asia last week printed the world’s tightest coupon on a US dollar Additional Tier 1 bond issue, underscoring its ability to price deals at more competitive levels than its global peers, even if it means leaving some Western investors behind.