China / HK Blue-Chip IG
A-/A3+ China and Hong Kong issuers with large benchmark issues.
This screening highlights benchmarksize USD issues from highgrade China and Hong Kong issuers rated A to AA+, presenting compelling entry points across both financial and industrial sectors. Shortdated maturities exhibit distinct pricing anomalies driven by specific issuer dynamics, evidenced by the ICBCIL 2.25% 2026 trading at a 45.8% YTW alongside more anchored yields like SFHOLD's 2.375% 2026 at 14.5%. Longend exposure offers attractive absolute yields for institutional portfolios seeking duration, with prime credits such as the AIA 5.4% 2054 and Tencent TENCNT 5.6% 2046 offering yields to worst hovering near 6.5%.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ICBCIL Finance Co Ltd. | …8488 | 2.25 | 45.817 | 99.75575 | 2026-11-02 | Inv Grade 3 | USD | 750MM | |
| 2 | MTR Corporation (C.I.) Limited | …4775 | 2.5 | 39.221 | 99.79375 | 2026-11-02 | AA+ | USD | 600MM | |
| 3 | SF Holding Investment 2021 Ltd. | …3011 | 2.375 | 14.479 | 99.425 | 2026-11-17 | A- | USD | 800MM | |
| 4 | Xin Yue Co Ltd. | …2685 | 2.358 | 7.679 | 98.755 | 2027-01-25 | Inv Grade 3 | USD | 500MM | |
| 5 | Amipeace Ltd. | …5006 | 1.75 | 7.651 | 99.8511667 | 2026-11-09 | Inv Grade 3 | USD | 600MM | |
| 6 | Prudential Funding Asia PLC | …0514 | 6.875 | 6.683 | 101.3685 | 2036-11-03 | 2036-08-03 | A- | USD | 850MM |
| 7 | AIA Group Ltd, Hong Kong | …AS26 | 5.4 | 6.593 | 84.8625 | 2054-09-30 | 2054-03-30 | A | USD | 750MM |
| 8 | Tencent Holdings Ltd. | …BF06 | 5.6 | 6.484 | 90.2561485 | 2046-06-16 | 2045-12-16 | A+ | USD | 700MM |
| 9 | AIA Group Ltd, Hong Kong | …AK99 | 3.2 | 6.46 | 70.4225 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 10 | China Overseas Finance (Cayman) II Ltd. | …7881 | 6.375 | 6.455 | 99.1792778 | 2043-10-29 | A- | USD | 500MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.