Bao-Trans benefits from beefed up keepwell deed

Bao-Trans Enterprises priced a $500m five year bond on Thursday that boasted a stronger keepwell structure that bankers on the deal say is more solid than earlier incarnations.

  • By Frances J. Yoon
  • 06 Dec 2013
The lack of comparable bonds from steel companies in the country left bankers reliant on benchmarking other state-owned Chinese enterprises to price the deal, as well as on investor feedback during the roadshow, according to a banker on the deal. Investors favoured final pricing in the mid 200s, ...

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