China / HK Blue-Chip IG
A-/A3+ China and Hong Kong issuers with large benchmark issues.
This highgrade screening focuses on A/A3+ rated benchmark issuers across China and Hong Kong, highlighting significant pockets of value where longduration sovereignadjacent spreads look compelling. Deepdiscount technology and insurance stalwarts—such as Alibaba’s 2061 maturity yielding 6.477% and AIA’s 2054 paper at a 6.50% YTW—offer portfolio managers attractive carry and duration extension in USD. Meanwhile, select shortend industrials like SF Holding’s November 2026 bond deliver an outlier yieldtomaturity of 10.433%, presenting tactical opportunities for yield enhancement within a highquality credit framework.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | SF Holding Investment 2021 Ltd. | …3011 | 2.375 | 10.433 | 99.661 | 2026-11-17 | A- | USD | 800MM | |
| 2 | Prudential Funding Asia PLC | …0514 | 6.875 | 6.618 | 101.8342499 | 2036-11-03 | 2036-08-03 | A- | USD | 850MM |
| 3 | AIA Group Ltd, Hong Kong | …AS26 | 5.4 | 6.5 | 85.915 | 2054-09-30 | 2054-03-30 | A | USD | 750MM |
| 4 | Tencent Holdings Ltd. | …BF06 | 5.6 | 6.492 | 90.1732635 | 2046-06-16 | 2045-12-16 | A+ | USD | 700MM |
| 5 | China Overseas Finance (Cayman) II Ltd. | …7881 | 6.375 | 6.481 | 98.9214001 | 2043-10-29 | A- | USD | 500MM | |
| 6 | Alibaba Group Holding Ltd. | …BA99 | 3.25 | 6.477 | 55.7796337 | 2061-02-09 | 2060-08-09 | A+ | USD | 1BN |
| 7 | AIA Group Ltd, Hong Kong | …AK17 | 3.2 | 6.46 | 70.4249 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 8 | Alibaba Group Holding Ltd. | …AW29 | 4.4 | 6.45 | 72.6271263 | 2057-12-06 | 2057-06-06 | A+ | USD | 1BN |
| 9 | Alibaba Group Holding Ltd. | …AV46 | 4.2 | 6.439 | 74.355163 | 2047-12-06 | 2047-06-06 | A+ | USD | 1.75BN |
| 10 | Tencent Holdings Ltd. | …AV81 | 3.24 | 6.433 | 61.5119704 | 2050-06-03 | 2049-12-03 | A+ | USD | 2BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.