Guangxi Financial lands $500m amid SOE vs LGFV talks

By Addison Gong
16 Jan 2018

Guangxi Financial Investment Group Co raised $500m from its debut on Monday — a rather large amount for a sub-investment grade government-owned Chinese credit. But the deal was priced in line with comparables, despite bankers and some accounts viewing the credit differently.

“The Monday market was rather clear,” said a syndicate banker on the deal. “The US was on holiday so there would not be any investment grade deals, but Asia was still in for trading. It was just a good day to go out.”

Guangxi Financial set the stage ...

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