Another dim sum first as Chengtong Development uses SBLC
China Chengtong Development Group this week priced the first ever dim sum bond to use an RMB-denominated standby letter of credit (SBLC). The three year deal priced on Wednesday night at 4% with a size of Rmb600m ($96m). Agricultural Bank of China (ABC) provided the SBLC via its Beijing branch.
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