More than $400 million of demand yesterday greeted China International Trust and Investment Corp.'s $250 million offering -- the first U.S. bond offering by a Chinese entity since the Communists seized power in 1949.
The 10-year offering was priced to yield a spread of 100 basis points over comparable Treasuries. That was the lower end of price talk, which called for a spread of 100 to 110 basis points over. Treasuries, a source familiar with the deal said. The offering was increased from $150 million.