China / HK Blue-Chip IG
A-/A3+ China and Hong Kong issuers with large benchmark issues.
This theme groups Arated and higher China and Hong Kong issuers with large, liquid USD benchmark bonds, offering investmentgrade credit quality alongside yields well above typical singleA levels. Chinese Financial and Hong Kong insurance names anchor the highyield end of the screen: CHIOLI 6.375% 2043 yields 6.57%, PRUFIN 6.875% 2036 yields 6.53%, and AIA 5.4% 2054 yields 6.52%, with the first two rated A. Communications issuers add longdated exposure at similar yields: Tencent 3.24% 2050 yields 6.37% and Alibaba 4.2% 2047 yields 6.36%, both A+, while AIA 3.2% 2040 offers 6.37% at a shorter tenor. Yields cluster tightly around 6.4% to 6.6%, so investors can choose sector and maturity without giving up yield.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | SF Holding Investment 2021 Ltd. | …3011 | 2.375 | 23.181 | 99.70825 | 2026-11-17 | A- | USD | 800MM | |
| 2 | China Overseas Finance (Cayman) II Ltd. | …7881 | 6.375 | 6.569 | 98.0258 | 2043-10-29 | A- | USD | 500MM | |
| 3 | Xin Yue Co Ltd. | …2685 | 2.358 | 6.542 | 99.1989129 | 2027-01-25 | Inv Grade 3 | USD | 500MM | |
| 4 | Prudential Funding Asia PLC | …0514 | 6.875 | 6.525 | 102.4935 | 2036-11-03 | 2036-08-03 | A- | USD | 850MM |
| 5 | AIA Group Ltd, Hong Kong | …AS26 | 5.4 | 6.524 | 85.6439005 | 2054-09-30 | 2054-03-30 | A | USD | 750MM |
| 6 | Tencent Holdings Ltd. | …AV64 | 3.24 | 6.367 | 62.1041471 | 2050-06-03 | 2049-12-03 | A+ | USD | 2BN |
| 7 | AIA Group Ltd, Hong Kong | …AK99 | 3.2 | 6.366 | 71.152007 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 8 | AIA Group Ltd, Hong Kong | …AK17 | 3.2 | 6.366 | 71.152007 | 2040-09-16 | 2040-03-16 | A+ | USD | 1.75BN |
| 9 | Tencent Holdings Ltd. | …AW48 | 3.29 | 6.358 | 57.6503977 | 2060-06-03 | 2059-12-03 | A+ | USD | 750MM |
| 10 | Alibaba Group Holding Ltd. | …AV46 | 4.2 | 6.355 | 75.1680313 | 2047-12-06 | 2047-06-06 | A+ | USD | 1.75BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.