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Chinese borrowers have been the dominant force for Asia’s dollar bond issuance, making up about 60% of the $198 billion of notes sold so far this year.
This is Tencent’s biggest US dollar offering and the first time its issued debt since 2015.
Representatives from eight Chinese banks’ branches in the southeastern province of Hainan, where HNA is based, met with the group.
The deal eclipsed China Evergrande Group’s $6.6 billion offering in June to become the biggest sale in Asia from a non-bank issuer. Issuers from Asia outside of Japan have already sold more than $293 billion in dollar notes so far this year, an all-time high, compared with about $186 billion for all of 2016.
The tide may slowly be turning for Chinese bonds.