SK Global Chemical takes first bite of dim sum

South Korean manufacturer SK Global Chemical announced its first foray into offshore renminbi bonds on September 16, the first issuer from the country to issue a public dim sum bond this year.

  • By Frances J. Yoon
  • 16 Sep 2013

The leads announced a three year deal at 4.375% which includes a 10bp-20bp premium over the average yield of triple-B rated Chinese state-owned enterprises, according to a banker on the trade.

The lack of direct comparable bonds have forced bankers to use similarly rated Chinese SOEs such as ...

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