Chalieco's NC3 perp pick-up tempts investors
China Aluminium International Engineering (Chalieco) priced its debut international bond last Friday, issuing a senior perpetual non-call three that pays 6.875%. The borrower opted for a non-call three structure to save costs but this also made the bond more investor-friendly, which meant it was able to shave 37.5bp off initial pricing.
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