APP China gauges demand for international debut
Paper and pulp company APP China is testing investors’ appetite for an unrated dollar bond, about 15 years after its Indonesian parent Asia Pulp & Paper Group defaulted on close to $14bn of debt.
Joint global co-ordinators Bank of China (Hong Kong) and China Citic Bank International opened books for the two year bond on Tuesday, with initial price guidance at the 9% area.
China Everbright Securities (HK) and Industrial Bank Co’s Hong Kong branch are also on the Reg S deal
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