Huatai Securities (SHA:601688, HKG:6886) indirect unit Huatai International Finance issued eight tranches of medium-term notes totaling $347 million.
Proceeds will support business development and working capital needs, according to a Monday filing on the Shanghai bourse.
Shares of the securities company were down 2% in recent trade on the Hong Kong bourse and 1% in Shanghai.
3:00 Friday vs 3:00 Thursday2yr 99-29+ vs 100-02; 4.289% vs 4.227%5yr 99-20 vs 100-00; 4.458% vs 4.373%10yr 96-13+ vs 97-12; 5.292% vs 5.215%30yr 95-28+ vs 97-26; 5.272% vs 5.207%2/10 45.175 bps vs 43.366 bps5/30 91.396 bps vs 83.279 bps
Higher long-term government bond yields are "somewhat unnerving" but also are a return to norms seen before the 2008 global financial crisis, according to BMO Capital Markets.The 30-year Treasury yield has moved above 5.2%, its highest level since 2007, before the crisis pushed interest rates lower worldwide, said Douglas Porter, BMO's chief economist, in a note Thursday. The 30-year Government of Canada bond yield is hovering around 4%, moving toward the strongest level since 2010, according to BMO.Canadian 30-year yields were up 1.1 basis points early Friday at 4.014% while US notes were up slightly at 5.22%."Perhaps the bigger story here is the roughly 120 bp spread with Treasuries; while not an extreme, it's much wider than the 50 bp norm of the past 20 years," Porter wrote in the note.This reflects a combination of lower Canadian short-term rates, a more moderate inflation environment and a relatively more favorable fiscal outlook, added Porter.US yields surged this week after a "mini-revolt" in bond markets following the Federal Reserve's rate hold and press conference by Chair Kevin Warsh, Porter said. "Still, the move higher is more a full return to pre-GFC norms, and not the beginning of a long-term upward march in yields."
Andon Health (SHE:002432) issued technology innovation bonds worth 760 million yuan, according to a Shenzhen bourse filing on Friday.The bond has a coupon rate of 1.68% and a term of two years, maturing July 30, 2028.Bank of Bohai is the lead underwriter of the issuance.The Chinese medical devices company's shares jumped 10% at the close.