Indicative Levels on Select China & HK Names' Asian USD bonds
As of Feb 26 2006|
Issuer
|
Ratings
|
Coupon
|
Maturity
|
Bid/Ask
|
Yield (%)
|
T Spread
|
Asset Swap
|
|
China
|
A2/BBB
|
4.750%
|
Oct 2013
|
97.73/98.04
|
5.15/5.10
|
T10 + 50/45
|
L + 2/-3
|
|
CNOOC
|
Baa1/BBB
|
4.125%
|
May 2013
|
94.31/94.60
|
5.20/5.15
|
T10 +55/50
|
L + 8/3
|
|
CHEXIM
|
A2/A-
|
4.875%
|
Jul 2015
|
97.05/97.42
|
5.31/5.26
|
T5 + 64/59
|
L + 15/10
|
| CDB |
A2/A-
|
4.75%
|
Oct 2014
|
96.61/97.02
|
5.29/5.23
|
T10 +62/56
|
L + 14/8
|
| HKG |
A1/AA-
|
5.125%
|
Aug 2014
|
99.77/100.11
|
5.16/5.11
|
T10 + 49/44
|
L + 2/-3
|
|
HKAA
|
AA-
|
5.000%
|
Sep 2013
|
98.97/99.23
|
5.18/5.14
|
T10 + 53/49
|
L + 5/1
|
| HK Land |
A2/BBB+
|
5.500%
|
Apr 2014
|
100.42/100.76
|
5.42/5.37
|
T10+75/70
|
L + 28/23
|
|
Hutch
|
A3/A-
|
6.250%
|
Jan 2014
|
104.17/104.38
|
5.51/5.48
|
T10 + 84/81
|
L + 38/35
|
|
KCRC
|
Aa3/AA-
|
8.000%
|
Mar 2010
|
107.76/107.94
|
5.20/5.15
|
T5 + 40/35
|
L + 10/4
|
|
MTRC
|
Aa3/AA-
|
4.750%
|
Jan 2014
|
97.16/97.43
|
5.24/5.20
|
T10 + 57/53
|
L + 11/7
|
|
PCCW-HKT
|
Baa2/BBB
|
5.250%
|
Jul 2015
|
95.58/95.94
|
5.92/5.87
|
T10 + 125/120
|
L + 73/68
|
| Bk of East Asia (sub) |
Baa2/BBB
|
5.625%
|
Dec 2015 / 10
|
100.88/101.06
|
5.45/5.40
|
T10 + 100/95
|
L + 60/56
|
|
Swire
|
A3/A-
|
5.625%
|
Mar 2016
|
100.76/101.08
|
5.51/5.47
|
T5 + 84/80
|
L + 34/30
|
* This page will be updated on weekly basis