NWS sells $500m bond on second attempt
NWS Holdings, the infrastructure division of Hong Kong conglomerate New World Development, raised $500m in the international bond market last week, pushing ahead with a deal that was put on hold last month after a string of new issues caused a temporary strain on liquidity.
The company raised $500m from the five year issue, which priced to yield 6.55%, the tight end of guidance that went up to 6.65%.
Bookrunners Deutsche Bank, HSBC, JP Morgan and Standard Chartered approached investors with an initial guidance of around 6.8% on Thursday, but were able to cut this
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