China / HK Blue-Chip IG
A-/A3+ China and Hong Kong issuers with large benchmark issues.
This curated screen focuses on highgrade A/A3+ and higher issuers from China and Hong Kong, offering professional fixedincome investors liquid benchmark exposure across sovereign, financial, and industrial sectors. The nearterm maturity bucket presents notable pricing dislocations, with shortdated paper from entities like ICBCAS (15.508% YTW), ICBCIL (15.317% YTW), and sovereign benchmark CHINA (14.315% YTW) trading at significant discounts to par. At the long end of the curve, premier Chinese and Hong Kong megacaps such as Tencent (TENCNT 5.6% 2046 at 6.491% YTW) and Alibaba (BABA 4.4% 2057 at 6.472% YTW) deliver attractive riskadjusted duration yields backed by robust balance sheets.
| # | 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 | 15.508 | 99.6512857 | 2026-10-28 | Inv Grade 3 | USD | 1BN | |
| 2 | ICBCIL Finance Co Ltd. | …8488 | 2.25 | 15.317 | 99.525 | 2026-11-02 | Inv Grade 3 | USD | 750MM | |
| 3 | MTR Corporation (C.I.) Limited | …4775 | 2.5 | 14.39 | 99.6 | 2026-11-02 | AA+ | USD | 600MM | |
| 4 | China (People's Republic Of) | …AE27 | 1.25 | 14.315 | 99.745 | 2026-10-26 | A+ | USD | 1.5BN | |
| 5 | SF Holding Investment 2021 Ltd. | …3011 | 2.375 | 9.726 | 99.425 | 2026-11-17 | A- | USD | 800MM | |
| 6 | Amipeace Ltd. | …5006 | 1.75 | 7.926 | 99.655 | 2026-11-09 | Inv Grade 3 | USD | 600MM | |
| 7 | Tencent Holdings Ltd. | …BF06 | 5.6 | 6.491 | 90.1788977 | 2046-06-16 | 2045-12-16 | A+ | USD | 700MM |
| 8 | AIA Group Ltd, Hong Kong | …AK17 | 3.2 | 6.484 | 70.2 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 9 | Alibaba Group Holding Ltd. | …AW29 | 4.4 | 6.472 | 72.3843738 | 2057-12-06 | 2057-06-06 | A+ | USD | 1BN |
| 10 | Alibaba Group Holding Ltd. | …AZ59 | 3.15 | 6.466 | 59.6327 | 2051-02-09 | 2050-08-09 | A+ | USD | 1.5BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.