China Jinmao builds $300m from latest hybrid

china property px230
By Addison Gong
31 Oct 2017

China Jinmao Holdings Group priced its third perpetual bond of the year on Monday, raising $300m from a subordinated deal that will mainly be used to repay bank loans.

Joint bookrunners Goldman Sachs and Standard Chartered on Monday morning set initial price guidance at the 5% area for a subordinated perpetual bond which will be first callable in 2023, and priced the $300m notes at 4.875% and at par later that day.

The bonds are also ...

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