The four-tranche offer received more than $38 billion in orders at the peak, according to people with knowledge of the matter. The notes comprising 10-year, 20-year, 30-year and 40-year maturities were priced at 30 basis points to 40 basis points lower than initial guidance, as measured in yields above comparable Treasuries, said the people, who aren’t authorized to speak publicly. The new dollar debt sale is the biggest in Asia since a $6 billion issuance by rival Tencent Holdings Ltd. in May. Spreads on the firm’s 3.4% note due 2027 were indicated at about 78.7 basis points over Treasuries on Thursday, some 57 basis points tighter than its January high, the latest Bloomberg-compiled data show. (Updates with chart and bond levels in last paragraph)For more articles like this, please visit us at bloomberg.com©2021 Bloomberg L.P.

Source: Mint February 05, 2021 03:45 UTC