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China online retailer JD.com said to plan US$1.5b bond sale

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JD.com Inc, China's second-biggest online retailer, is planning to offer about US$1.5 billion of bonds, people familiar with the matter said.

[HONG KONG] JD.com Inc, China's second-biggest online retailer, is planning to offer about US$1.5 billion of bonds, people familiar with the matter said.

The people asked not to be identified because the details are private. The Beijing-based company declined to comment in an e-mailed statement.

China's Internet giants are providing a haven for bond investors fleeing mounting credit risks among state-owned enterprises.

Demand is also rising as authorities try to cut economic reliance on smokestack industries and expand private-sector services such as e-commerce, online finance and entertainment.

sentifi.com

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While financing costs have risen onshore as local bond defaults spread in recent weeks, they've dropped for Chinese companies in the international debt market.

The average yield on investment-grade dollar notes from the nation's firms has fallen near a three-year low of 2.97 per cent, according to Bank of America Merrill Lynch indexes.

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