Flow Capital is a licensed company holding SFC Type 1, 4, and 9 licenses. We have actively engaged in Debt Capital Market and maintain strong relationships with market-oriented investors, including family offices, funds, asset management, insurance companies, etc. We assist State-Owned and Chengtou companies in financing in offshore bond markets, in hand with clients to achieve value growth.
In March 2024, we act as Joint Global Coordinators for China Hongqiao Group Limited (1378.HK), the issuance of USD300 million, 364-day, coupon rate of 7.75% senior unsecured bond. The issuer holds ratings of Ba2 (Negative) from Moody’s, BB- (Stable) from S&P, and BB+ (Stable) from Fitch. This bond offers an issue price of 100, Initially priced guidance at 8.25% area, and final price guidance of 7.75% after tightening by 50 bps. The order books reached a peak of 2.1 billion USD, with 82% of investors being hedge funds, 8% representing banks and securities, and the remaining investors coming from private banking.
