China Orienwise Ltd., a Chinese credit guarantee company, has priced a $100 million bond -- the first high-yield offering from the financial services sector in China. It was also the latest Chinese issuer to turn to the debt capital markets for funds.

The five-year deal was priced late on Tuesday at 10.5 percent, the same day as Shanghai-focused Shimao Property Holdings Ltd. sold a two-part bond worth $600 million -- the largest Chinese corporate bond issue in the last decade.

The offer, rated Ba3 by Moody's Investors Service, carries a warrant feature, allowing the holders to purchase shares of China Orienwise Financial Holding Ltd..

Morgan Stanley was the sole bookrunner for the China Orienwise offer. It was also a joint bookrunner for the Shimao issue, along with Goldman Sachs.

China Orienwise engages in providing guarantees, entrusted loans and advisory services to small- and medium-sized enterprises and individual customers. It had total assets of 2.6 billion yuan ($330 million) as of the end of August.

The company is 100 percent owned by Credit Orienwise Group, whose strategic investors include Asian Development Bank, Citigroup Venture Capital International and U.S. buyout firm Carlyle Group.