Unilever pays almost 2% more to refinance dim sum
Unilever refinanced a three year dim sum bond at 2.95% on February 21, much higher than the original bond’s coupon of 1.15%, as the market grows increasingly investor friendly.
The pricing for the new three year deal was much wider than for the company’s existing 2014s, despite a strong order book worth Rmb2bn ($328m) for the Rmb300m deal.
Initial guidance was in the 3.25% area and bookrunners HSBC and UBS were able to tighten pricing by 30bp
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.