Huarong bags $3bn three-trancher in third deal of 2016

Three darts in bullseye 230x150
By Morgan Davis
16 Nov 2016

China Huarong Asset Management went three for three on Tuesday, raising $3bn over three tranches in its third deal of the year. But given the timing of its transaction, the bad debt manager was forced to pay a juicy premium as markets remain volatile after the US election.

Raising $3bn in the post-election market was no easy task as issuers are preparing to face a different market now through to the end of the year, said one banker close to the transaction.

“It was a good deal,” he added. “And it set the tone for issuers ...

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