Galaxy goes bigger, tighter with Rmb1.4bn HK deal
The fledgling offshore renminbi bond market in Hong Kong took a big step forward this week with one landmark transaction completed and another underway — bringing high yield and a Russian bank to the market.
Galaxy Entertainment Group, the Macao casino developer, raised Rmb1.38bn ($207m) in a well-received deal that was priced on Thursday night. The deal was both larger than expected and much tighter. Having been marketed as a Rmb1bn deal around the 5% mark, the three year issue eventually came at
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