Admiralty Harbour is a credit-focused financial services firm based in Hong Kong.
Admiralty Harbour completes US$230m bond offering for China Aoyuan
Nov 2020
The first collaboration between Aoyuan and the Admiralty Harbour brand
On 11 November 2020, Admiralty Harbour acted as a JCG, JBR and JLM in China Aoyuan Group Limited’s (“Aoyuan”) offering of US$230m 5.98% senior unsecured bonds due August 2025. The Admiralty Harbour team and Aoyuan has a long history of success in international capital markets. Since its debut back in 2012 Admiralty Harbour’s leadership has been with Aoyuan every step of the way. This transaction marks the first collaboration between Aoyuan and the Admiralty Harbour brand, another significant milestone in this long and sturdy relationship between the two firm’s leadership.

The deal was announced on the heels of encouraging vaccine news triggering a momentums shift in from tech allocation to cyclical stocks in the US market. On this note, investor support for Aoyuan was unwavering, the transaction was 9x oversubscribed with over US$2.1 billion in total book, 25% of which were from European investors. In October 2020, Aoyuan earned a ratings upgrade from Fitch to “BB (Stable)”. Admiralty Harbour looks forward to writing another triumphant chapter in Aoyuan’s capital markets story, with the Company.