Wanda bankers defend premium on 10 year bond

Dalian Wanda Commercial Properties came under criticism this week from bankers who said it paid a hefty premium on last week's $600m 10 year bond to establish a longer dated dollar curve. But bankers on the bond, priced on January 23, argued that a stable performance shortly after pricing vindicated the final yield. The bonds subsequently fell, but the broader emerging market sell-off meant that this widening said little about the initial pricing.