Primary Credit Watch

• Reliance Communications Gets >$650m Orders for $300m Bond
  Priced at 6.5%, IPT 6.5% area.
  Over $650m orders from >100 accounts
  By region
  Asia 75%
  Europe, Middle East 25%
  By investor type
  Fund managers, hedge funds 24%
  Banks 9%
  Private banks, retail 67%

• CNOOC TO SELL USD 5Y, 10Y, 30Y BONDS, IPT +150, +180, +170BP

Today’s Business

• China New Town to Sell CNH 3Y Bonds, IPT 5.8% Area

  Issuer: China New Town Finance I Ltd.
  Guarantor: China New Town Development Co.
  Keepwell and Liquidity Support Deed and Deed of Equity Interest Purchase Undertaking Provider: China Development Bank Capital Corp.
  Unrated
  Reg S
  Cross Default Threshold: CNY300m with respect to CDBC and its subsidiaries, CNTD and its subsidiaries, and the issuer
  JGCs: BOCI, Citic Securities Intl, Guotai Junan Intl
  JBRs: BOCI, Citic Securities Intl, Guiotai Junan Intl, Agricultural Bank of China, BOCOM HK, Haitong Intl