In one of the first non-property Chinese high-yield names to come from China since the lockdown, Fosun International last week printed $600 million debt inside its own curve to refinance debt.
The Hong Kong-listed conglomerate, whose business is split into leisure tourism, insurance and banking, and healthcare, sold the upsized four-year non-call three paper at 6.85% as books swelled to more than $2 billion.
Timing for the deal couldn’t have been better. As one banker on the deal who spoke to FinanceAsia on condition of anonymity said “It was probably one of the best days of the year so far you'd be hard-pressed to finding a...
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