China Vanke helps itself to second serving of dim sum
China Vanke returned to the offshore renminbi market on Monday, less than a month after making its debut. Strong demand for its debut meant the Chinese property company was able to price through its dollar curve on its latest trade.
Joint bookrunners BNP Paribas, Deutsche Bank and HSBC priced the new Rmb1bn ($163m) three year deal to yield 4.05%. Its highly successful debut, in late November, was a five year Rmb1bn which paid 4.5%.
Commenting on the timing of the new three year deal, a banker on a
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