BEA returns to dim sum, adds offshore to mainland borrowing
Bank of East Asia’s China branch raised Rmb1bn ($159m) from its second visit to the dim sum bond market late last week, offering a juicy yield pick-up against outstanding notes from other lenders.
The bank priced the three year bond at par to yield 3.65%, the lower end of final price guidance. Bookrunners BNP Paribas and HSBC initially pitched the deal at 3.75%-4%, before cutting the price indication to 3.65%-3.85%.
Bankers said it was hard to find the best comparable for the
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