PowerChina navigates tough market for $300m senior perp

By Addison Gong
07 Mar 2018

Power Construction Corporation of China (PowerChina) sealed a two times covered senior perpetual bond on Tuesday, despite overall weak sentiment for such notes in a rising rate environment.

Initial price guidance for the perpetual non-call five year bond was set at the 4.875% area by global co-ordinators Bank of China and HSBC. The two were also the bookrunners and lead managers with ANZ, Bank of Communications, ICBC (Asia) and Société Générale.

PowerChina was the guarantor of ...

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