Lanxess makes dim sum debut, raises Rmb500m
German chemicals company Lanxess raised Rmb500m ($79.4m) from its first foray into the offshore reniminbi bond market this week, adding to the growing number of foreign issuers tapping the market.
Bank of America Merrill Lynch, Deutsche Bank and Standard Chartered pitched the Lanxess deal with an initial price guidance of low to mid 4% area on Wednesday morning and then revised it to 4.20%-4.30% later in the day as the books filled up, said bankers on the deal.
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