CCB Plans Dollar Bonds as Chinese Bank Risk Climbs Most in Asia
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China Construction Bank Asia Corp. is marketing a sale of dollar-denominated bonds, testing demand for the nation’s bank debt after the cost of insuring similar notes jumped the most in Asia this year.
CCB Asia, a unit of China’s second-largest lender, plans to sell $300 million of three-year securities at about 175 basis points more than Treasuries, according to a person familiar with the matter, who asked not to be identified because the terms aren’t set. Investor perceptions of risk for China Development Bank Corp., Export-Import Bank of China and Bank of China Ltd. worsened the most since Dec. 31 among 40 investment-grade borrowers in an Asia gauge excluding Japan.