China Development fails to re-energise CB market

In response to its many critics, lead manager Goldman Sachs appeared to have fully syndicated China Development Financial Holding's (CDFH) deal on Friday in the face of a market showing very clear signs of indigestion. However, none would deny that the deal was anything but a struggle from start to finish and many now wonder where the next issue for either SinoPac or Chinatrust can go from here.