CSC taps market after Tencent announcement tightens pricing
China South City, a developer of integrated logistics and trade centres, opened books on a five-year non-call three bond on Monday morning. News that Internet service provider Tencent will buy almost 10% of CSC has pushed down its funding costs, said bankers on the deal.
China South City looks set to capitalise on news that internet company Tencent will buy nearly 10% of the company to price a planned five-year non-call three US dollar bond.
Bookrunners Bank of America Merrill Lynch, Citi, Credit Suisse, HSBC, ICBC International and UBS opened books with guidance in the
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