Redco Properties rides 364-day trend to raise $250m
Redco Properties Group managed to tighten pricing on its 364-day bond by a hefty 50bp on Wednesday, bagging $250m from the issuance. But the yield still appealed to the buy-side, with investors pumping in $1.6bn in orders at its peak.
Joint global co-ordinators Credit Suisse and Morgan Stanley began marketing the Reg S transaction at the 7.5% area on Wednesday. China Everbright Bank Hong Kong branch, Orient Securities (Hong Kong) and VTB Capital were also on the deal as joint bookrunners and joint lead managers.
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