China Merchants makes most of rally with $250m 3yr CD

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China Merchants makes most of rally with $250m 3yr CD

China Merchants Bank took advantage of recovery in secondary bond markets last week, closing a $250m three year certificate of deposit. The mainland lender raised less than it had hoped from the deal after sticking to its 300bp over mid-swaps price target, but bankers could attempt to re-open the note this week.

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