Poly packs biggest order for unrated Chinese issuer
Poly Property priced a smoothly executed $500m five year debut bond last week, with a decent premium over its competitors’ secondary levels ensuring a solid aftermarket performance.
The bookrunners priced the bond on May 9 at 4.75% after receiving $6.7bn of orders from 157 accounts, making it the biggest order book yet for an unrated Chinese issuer, said a syndicate banker on the deal.
The issuer is a subsidiary of China Poly Group Corp, which benefits
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