Guangzhou RCB prices ‘ironically’ tight AT1

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Guangzhou RCB prices ‘ironically’ tight AT1

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As the crisis at Baoshang Bank and Bank of Jinzhou continues to brew, Hong Kong-listed Guangzhou Rural Commercial Bank priced a $1.43bn Basel III-compliant additional tier one (AT1) note at a level that was well inside where similarly rated small Chinese lenders were trading in the secondary market.

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