China / HK Blue-Chip IG
A-/A3+ China and Hong Kong issuers with large benchmark issues.
This curated screen highlights highgrade A/A3+ issuers across China and Hong Kong, featuring large benchmark USD issues that offer compelling relative value in the current rate environment. Shortdated sovereign and quasisovereign instruments present exceptional nearterm carry, led by the CHINA 1.25% 2026 trading at a 10.395% YTW alongside select financial names like ICBCAS 2026 yielding 12.123% and BOCGRI 2026 at 7.12%. For institutional portfolios seeking duration and highquality exposure without taking on speculative credit risk, longend tech and insurance bluechips provide attractive mid6% yields, including the TENCNT 5.6% 2046 at 6.484% YTW and ultralong BABA 3.25% 2061 paper offering a 6.457% YTW at a steep discount to par.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Industrial and Commercial Bank of China Limited, Hong Kong Branch | …3350 | 1.625 | 12.123 | 99.6484286 | 2026-10-28 | Inv Grade 3 | USD | 1BN | |
| 2 | China (People's Republic Of) | …AE27 | 1.25 | 10.395 | 99.745 | 2026-10-26 | A+ | USD | 1.5BN | |
| 3 | SF Holding Investment 2021 Ltd. | …3011 | 2.375 | 9.016 | 99.425 | 2026-11-17 | A- | USD | 800MM | |
| 4 | ICBCIL Finance Co Ltd. | …8488 | 2.25 | 8.515 | 99.71875 | 2026-11-02 | Inv Grade 3 | USD | 750MM | |
| 5 | Amipeace Ltd. | …5006 | 1.75 | 7.12 | 99.655 | 2026-11-09 | Inv Grade 3 | USD | 600MM | |
| 6 | AIA Group Ltd, Hong Kong | …AK17 | 3.2 | 6.484 | 70.1898783 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 7 | Tencent Holdings Ltd. | …BF06 | 5.6 | 6.484 | 90.2459925 | 2046-06-16 | 2045-12-16 | A+ | USD | 700MM |
| 8 | AIA Group Ltd, Hong Kong | …AK99 | 3.2 | 6.482 | 70.2006875 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 9 | Alibaba Group Holding Ltd. | …AW29 | 4.4 | 6.458 | 72.5316905 | 2057-12-06 | 2057-06-06 | A+ | USD | 1BN |
| 10 | Alibaba Group Holding Ltd. | …BA99 | 3.25 | 6.457 | 55.9379501 | 2061-02-09 | 2060-08-09 | A+ | USD | 1BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.