China / HK Blue-Chip IG
A-/A3+ China and Hong Kong issuers with large benchmark issues.
This curated universe of A/A3+ rated China and Hong Kong bluechip benchmarks offers professional fixedincome investors a compelling mix of sovereign, quasisovereign, and toptier corporate credits against a backdrop of compelling absolute yield anomalies. Shortdated highgrade names are displaying acute yield dislocation driven by localized technical pressures, highlighted by the sovereign CHINA 1.25% maturing October 2026 trading at an eyecatching 31.74% YTW, alongside robust policybank and financial paper like ICBCAS and ICBCIL offering yields from 12.35% to 25.59%. For durationseeking accounts, deeply discounted longend tech and insurance benchmarks provide attractive convexity and totalreturn upside, including ultralong Tencent and AIA issues offering yields near 6.50% at cash prices well below par.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | China (People's Republic Of) | …AE27 | 1.25 | 31.736 | 99.745 | 2026-10-26 | A+ | USD | 1.5BN | |
| 2 | Industrial and Commercial Bank of China Limited, Hong Kong Branch | …3350 | 1.625 | 25.587 | 99.6655715 | 2026-10-28 | Inv Grade 3 | USD | 1BN | |
| 3 | ICBCIL Finance Co Ltd. | …8488 | 2.25 | 12.35 | 99.745 | 2026-11-02 | Inv Grade 3 | USD | 750MM | |
| 4 | SF Holding Investment 2021 Ltd. | …3011 | 2.375 | 10.95 | 99.425 | 2026-11-17 | A- | USD | 800MM | |
| 5 | Amipeace Ltd. | …5006 | 1.75 | 9.47 | 99.655 | 2026-11-09 | Inv Grade 3 | USD | 600MM | |
| 6 | MTR Corporation (C.I.) Limited | …4775 | 2.5 | 7.491 | 99.87325 | 2026-11-02 | AA+ | USD | 600MM | |
| 7 | AIA Group Ltd, Hong Kong | …AK17 | 3.2 | 6.501 | 70.09 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 8 | AIA Group Ltd, Hong Kong | …AK99 | 3.2 | 6.499 | 70.1025 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 9 | Tencent Holdings Ltd. | …AV81 | 3.24 | 6.456 | 61.2941826 | 2050-06-03 | 2049-12-03 | A+ | USD | 2BN |
| 10 | Tencent Holdings Ltd. | …BF06 | 5.6 | 6.45 | 90.5945102 | 2046-06-16 | 2045-12-16 | A+ | USD | 700MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.