Cinda gets huge bid for aggressive AT1

China Cinda Asset Management topped up its capital with a $3.2 billion alternative tier one bond, generating blow-out demand despite an aggressive approach.
China Cinda Asset Management, a giant distressed debt buyer, sold the first additional tier one deal from a Chinese non-bank financial institution on Friday.

The Hong Kong-listed bad-loan manager — rated A3/A-/A by Moody's, Standard & Poor's and Fitch — raised $3.2 billion through the sale of a perpetual non-call five bond, getting huge demand from global investors.

¬ Haymarket Media Limited. All rights reserved.

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